said it is buying U.S. supply-chain software provider Blue Yonder Holding Inc. from
Blackstone Group Inc.
and New Mountain Capital LLC for $7.1 billion in a bid to accelerate its software business.
Panasonic on Friday said the Covid-19 pandemic is leading to sharp changes in supply and demand, making supply-chain management critical for companies. The electronics company said it also is looking to expand recurring business in addition to hardware sales.
Panasonic said it is purchasing an additional 80% stake in the Arizona-based company that it didn’t already own.
Panasonic took a 20% stake in Blue Yonder in July, deepening the companies’ relationship as they jointly develop digital technology for managing logistics, retail and manufacturing operations.
Panasonic’s imaging technology, for example, can be used to monitor inventory levels