Image via ~ Glassdoor

American Supply chain and AI software provider Blue Yonder, led by CEO Girish Rishi, has been acquired by Panasonic, in a $7.1 billion deal. With this acquisition, the valuation of Blue Yonder has now touched $8.5 billion.

Panasonic, which has already acquired 20% shares of Blue Yonder in July last year, will buy the remaining 80% of shares for $5.6 billion.

The deal is intended to close by the second half of this fiscal year

Led by Girish Rishi, who is an alumnus of University of Mumbai (1989 batch), Blue Yonder is a supply chain industry leader, providing an end-to-end platform driven by AI/ML that serves as a “system of intelligence” for its global retail, manufacturing and logistics customers. Its cloud-based LuminateTM platform seamlessly manages all nodes of the supply chain across planning, execution and commerce on one unified platform.

In a media statement, Panasonic CEO Yuki Kusumi, said --
By merging the two companies, we would like to realise a world where waste is autonomously eliminated from all supply chain operations and the cycle of sustainable improvement continues.
The acquisition of Blue Yonder will enhance Panasonic’s own digital transformation and customer-centric focus. With a planned date of April 1, 2022, the Panasonic Group will shift to a holding company system, with holding company name "Panasonic Holding Corporation", to concentrate on management resources on strategic businesses in key areas such as providing supply chain innovation and automation.

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