The answer: $9 billion. The importanc: That’s how much Panasonic has agreed to pay for the purchase of Sanyo. The latest in large tech company mergers. This one makes sense, too. Panasonic, which makes Viera TVs and Diga Blu-ray disc players, said last month that it was interested in acquiring Sanyo. Sanyo, which has been struggling to turn around its business, also expressed interest in the alliance. One of the most beneficial aquisitions Panasonic will gain from Sanyo is it’s strength in green enrgy. Sanyo has well respected solar panels and rechargeable batteries in its lineup. According to Panasonic’s president, in the long run, this deal should help them prepare for a better place in the technological market.
The deal should be complete around February 2009, based upon final approval by all parties shareholders.