Panasonic announced today that it will buy out two of its subsidiaries, Sanyo and Panasonic Electric Works, for $9.4 billion.
Sanyo is the largest lithium-ion rechargeable battery producer and 11th-largest solar cell producer in the world with a quickly-growing solar panel manufacturing arm according to company statements.
Panasonic Electric Works makes a wide range of electrical products including temperature, lighting and motion sensors and controls.
Last year, Panasonic acquired a 50.27% stake in Sanyo for $4.4 billion.
The pair of acquisitions should help the company best known for its Panasonic plasma TV, camera and other consumer electronics expand into energy technology.
Panasonic aims to become the “No. 1 green innovation company in the electronics industry” by 2018.
Panasonic Corporation of North America (PNA), based in Secaucus, NJ, is the principal North American subsidiary of Osaka, Japan-based Panasonic Corporation (NYSE: PC) and the hub of its branding, marketing, sales, service, product development and R&D operations in the U.S. and Canada. For nearly 50 years, Panasonic has delighted American consumers with innovations for the home and business. Panasonic’s consumer electronics and technology products range from award-winning VIERA High Definition Plasma and LCD TVs and LUMIX Digital Cameras to ruggedized...
SANYO Electric Group, by developing unique technologies and offering excellent products and sincere services, seeks to become a corporation that is loved and trusted by people around the world. The Group seeks to become” as indispensable as the Sun” for the people of the world.
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