Panasonic to Buy Supply-Chain Software Provider Blue Yonder for $7.1 Billion

Panasonic Corp.

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

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Search Software Provider Elastic Posts Better-Than-Expected Financial Results

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Dreamstime

Enterprise search software provider

Elastic

posted better-than-expected results for its fiscal third quarter ended Jan. 31 and raised full-year guidance.

For the quarter, Elastic (ticker: ESTC) reported revenue of $157.1 million, up 39% from a year ago, and ahead of both the guidance range of $145 million to $147 million and the Wall Street analyst consensus forecast of $146.7 million. The company posted a non-GAAP loss of 4 cents a share, ahead of the guidance range of a loss of 14 cents to 16 cents a share, and the Street consensus forecast of a loss of 15 cents. Elastic said software-as-a-service revenues were $44.9 million, up 79%.

For the fiscal fourth quarter ending April 30, Elastic sees revenue of $158 million to $159 million, with a non-GAAP loss of 15 to 18 cents a share, ahead of the previous Street consensus at $152 million and a loss

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Hack of Software Provider Accellion Sets Off Global Ripple Effects

The hack of software provider Accellion USA LLC has renewed security experts’ fears of attacks on suppliers and highlighted the difficulty of defending against them in real time.

A growing list of affected customers have shared timelines of the attack and claims of inadequate software patches that at times contradict the vendor’s account of events. The disclosure this week that victims include Jones Day—a law firm that handles sensitive information for clients—underscores how individuals who don’t interact with Accellion directly nonetheless might be exposed, security experts say.

These moving parts can complicate the response for all victims and start a blame game that could end up in court to determine liability, said Anthony J. Ferrante, global head of cybersecurity at
FTI Consulting
.

“The finger-pointing is just beginning,” said Mr. Ferrante,

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