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Premier Farnell is flying high with £6.6m German acquisition
ELECTRONICS distributor Premier Farnell has bought a German-based developer and supplier of specialist computer aided design software for £6.6m.
CadSoft Computer develops software for design engineers. Its well-known Eagle product has been sold to more than 40,000 designers throughout Europe and the US.
Leeds-based Premier Farnell said the acquisition of CadSoft was an enhancement to its core strategy of meeting engineers' technology, information, tools and software needs.
The acquisition is a further step in Premier Farnell's strategy of focusing on the international electronic design engineer community through the web.
Premier Farnell's chief executive Harriet Green said: "The software will enable us to facilitate design exchange between engineers."
The business is being acquired from its two founders, who developed the Eagle software and who will remain with the business as part of the integration with Premier Farnell.
Premier Farnell reported improved sales in August amid indications that customers are stopping destocking and starting to reorder.
The group has endured tough world markets, which showed little improvement in the three months to August 2.
Pre-tax profits fell 10 per cent to 16.2m in the second quarter while sales fell 17 per cent to 183.7m.
But there are signs that the market could be turning and Ms Green said the group is well placed for the future.
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Thursday 24 May 2012
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