Panasonic Connect seeks buyer for its projector business | AV Magazine

By AV Magazine in APAC, Business May 28, 2024 0

The imminent sale of the division will raise funds for the acquisition of another supply chain software developer for Panasonic Connect’s systems business.

Panasonic is planning to exit its projector business to focus resources on digital supply chain systems, according to Nikkei Asia.

Panasonic Connect could decide on a buyer for the business as early as next month, with Japanese financial services group Orix and at least one international investment fund believed to have shown an interest.

The sale price has been estimated at 80bn yen (£400m).

The sale will raise funds for the acquisition of another supply chain software developer for Panasonic Connect's systems business. The business is centred on US-based Blue Yonder, which Panasonic Holdings bought in 2021 for more than $7bn (£5.48bn).

Panasonic Connect has not disclosed the most recent annual sales for the projector business, but the media and entertainment segment, which includes projectors, posted 111bn yen (£555m) in sales for the year to March.