Blue Yonder, a leader in supply chain software, announced Friday it has confidentially submitted a proposed initial public offering (IPO) to the Securities and Exchange Commission. The IPO price and number of shares have not yet been determined.
In March, the company was rumored to be under consideration for acquisition by Panasonic Corp. (OTC:PCRFF), an electronics firm, for $6.45 billion, according to a report by Nikkei Asia. The Japanese company already has a 20% stake in Blue Yonder, which was acquired in 2020 for approximately $790 million.
Due to the recent Blue Yonder IPO filing, it seems unlikely that this deal will continue.
Panasonic has recently been pivoting into electronic hardware that combines software and other devices to improve operational efficiency, something competitor Sony has done with platforms like Hitachi for gaming.
If acquired, Panasonic could combine the artificial intelligence software of Blue Yonder with its logistics facility hardware, including security cameras and bar code readers to predict and audit supply chains for inefficiencies.
In November, Panasonic incorporated a number of Blue Yonder Luminate Planning solutions with its Mobile Solutions Business Division to increase accuracy of its global supply chain.
FreightWaves will update this story as needed.