(Bloomberg) -- Panasonic Corp. is nearing a deal to acquire U.S. artificial intelligence software developer Blue Yonder, according to people familiar with the matter.

Talks are at an advanced stage and an announcement could come as soon as the next few days, said the people, who asked not to be identified as the information is private. A deal for the AI firm, in which Panasonic is a minority shareholder, could be valued at about $6.5 billion, one of the people said.

Blue Yonder, which confidentially filed for a U.S. initial public offering this month, will not proceed with its listing plans as a result, another person said.

Shares in Panasonic plunged to their lowest level since Jan. 18 in Tokyo after the Bloomberg News report. The stock fell 3.5% at the close.

A deal would come less than a year after Panasonic acquired a 20% stake in Blue Yonder for $800 million, giving the AI firm an enterprise value of $5.5 billion.

Discussions could still be delayed or fall apart as no final decision has been made, the people said. A representative for Panasonic declined to comment, while a representative for Blue Yonder’s Tokyo office didn’t immediately respond to an emailed request for comment.

Blue Yonder, founded in 1985 and formerly known as JDA Software Inc., makes supply-chain management software and uses artificial intelligence to predict product demand. It’s helping more than 3,300 manufacturers, retailers and logistics companies globally to create more autonomous and operations, according to a press release last year.

(Updates with Panasonic shares to close in fourth paragraph.)

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