Artificial intelligence-based supply chain software provider, Blue Yonder, has secretly filed for a proposed initial public offering.
The filing comes amid growing investor investment into logistics technology following the global supply chain disruptions, port overcrowding, commodities crisis, transport capacity congestions, the Wall Street Journal reports.
Japanese electronics maker Panasonic Corp had acquired a 20% stake in Blue Yonder. The remaining 80% stake in Blue Yonder is held by The Blackstone Group Inc. and New Mountain Capital.
Last month Panasonic was negotiating a deal to buy U.S.-based supply chain management software provider Blue Yonder for about $6.5 billion. Incidentally, Panasonic had made an equity investment in Blue Yonder in May 2019, with the stake acquired through subscription to a secondary offering.
Data research group Garner ranked Blue Yonder in 2020 as the third-largest supply-chain-management software market provider, based on 2019 revenue after SAP SE and Oracle Corp. Blue Yonder empowers more than 3,300 manufacturers, retailers, and logistics companies to create more autonomous, sustainable, and profitable operations. Its clientele includes several big names such as Walmart Inc. and Unilever PLC.
