Techiton

Panasonic, the world’s top plasma TV manufacturer has confirmed that it will acquire its smaller rival, Sanyo Electric at a cost of about $8.8 billion. A deal that will make Panasonic Japan’s top electronics manufacturer.

The acquisition of Sanyo will make Panasonic surpass Hitachi, and will strengthen Panasonic’s edge in solar power equipment and in the growing market for rechargeable batteries in cell phones, PCs and automobiles.

This strategic move, the first such postwar deal in the electronics industry, is intended to help the companies weather the current harsh economic climate. What is most notable about Panasonic's acquisition of Sanyo is that it represents a response to the biggest challenge facing mankind: stemming global warming.

Sanyo is also the world's top maker of rechargeable lithium-ion batteries with a global market share of nearly 40 percent. Sanyo and Panasonic combined control about half of the world's market.

Source: Asahi.com