German acquisition boosts electronic component firm
lundi, 12 octobre 2009
Premier Farnell, the Leeds-based international electronics component giant, has acquired CadSoft Computer for €7m (£6.4m).
The German-based developer and supplier of specialist computer aided design (CAD) software for design engineers is best known for its EAGLE product, which has been sold to more than 40,000 designers throughout Europe and the US.
Premier Farnell said the acquisition of CadSoft was an enhancement to its core strategy of meeting engineers' technology, information, tools and software needs as well as internationalising its proposition and services for the rapidly developing Asian markets.
Commenting on the acquisition, Premier Farnell chief executive Harriet Green said: "We are excited by the opportunity this acquisition affords us to attract new design engineering customers as we offer them access to industry leading software and our outstanding range of products and support.
"The EAGLE software will enable us to facilitate design exchange between engineers through element14, our design community, which when combined with our leading edge transactional websites offers customers a complete online solution to their purchasing and design needs."
The shares of CadSoft Computer are being acquired from its two founders, and developers of the EAGLE software who will remain with the business for agreed time periods as part of the integration with Premier Farnell.
The US business and certain of its assets are being acquired from CadSoft Computer Inc.
Premier has invested heavily in developing its web sales and now sells 35% of products in its marketing and distribution division on the internet.
More than half of Farnell Europe's sales are on the web with fourth quarter sales in Eastern Europe rising by 58%. Chinese sales were 15% up while there was a 24% increase in online sales in India.