and posted in Technology
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Panasonic agreed to acquire Blue Yonder to develop US AI programs for us $ 7.1 billion, in one of the Japanese company’s largest acquisitions.

Panasonic, which already owns a 20% stake in Blue Yonder, will buy the rest of the AI ​​shares from New Mountain Capital, and the funds managed by the Blackstone Group, for $ 5.6 billion, according to a statement released on Friday. This was confirmed by a previous report published by Bloomberg News. Panasonic’s total investment will reach $ 7.1 billion, including debt repayment.

The announcement came less than a year after Panasonic acquired a minority stake in Blue Yonder for $ 800 million, giving the AI ​​company a corporate value of $ 5.5 billion.

The new acquisition raises the valuation of the Scottsdale, Arizona AI-based company, to $ 8.5 billion

It is worth noting that the Japanese company will finance the deal in cash, in addition to a short-term loan. The deal is expected to be completed by the end of this year.

Panasonic shares fell on Friday to touch their lowest level since January 18 in Tokyo, after a Bloomberg News report. The stock fell 3.5% at the close.

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Blue Yonder, founded in 1985 and formerly known as JDA Software, manufactures supply chain management software and uses artificial intelligence to forecast product demand, according to the statement.

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