© Reuters. FILE PHOTO: A Panasonic Corp logo is shown at CEATEC JAPAN 2017 in Chiba
TOKYO (Reuters) – Panasonic (OTC 🙂 Corp will buy US software company Blue Yonder for 700 billion yen ($ 6.45 billion), as reported Monday. This is the largest acquisition by the Japanese electronics company since 2011.
While Panasonic bought a 20% stake in Blue Yonder in 2020, it is now in the final stages of acquiring the rest from shareholders such as Blackstone Group (NYSE 🙂 Inc, the Nikkei said, citing unnamed sources.
The move comes as the Japanese company plans to expand hardware that combines software, sensors and other devices to help companies improve operational efficiencies, Nikkei said.
Panasonic could not be reached for immediate comment.
($ 1 = 108.4900 yen)
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