TOKYO (Reuters) – Panasonic Corp will buy U.S. software firm Blue Yonder for 700 billion yen ($6.45 billion), the Nikkei reported on Monday, saying it was the Japanese electronics firm’s biggest acquisition since 2011.
While Panasonic bought 20% stakes of Blue Yonder in 2020, it is now in the final stage to acquire the rest from shareholders including Blackstone Group Inc, the Nikkei said, citing unnamed sources.
The move comes as the Japanese company aims 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)
(Reporting by Takashi Umekawa; Editing by Edmund Blair, editing by Louise Heavens)
