Leeds firm buys software developer
Donnerstag, 24 September 2009
Leeds-based electronics firm Premier Farnell has bought German-based developer CadSoft Computer as part of its international expansion plans.
The deal, worth 7 million (£6.3 million), means Premier Farnell can offer more services, particularly in the rapidly expanding Asian markets, as well as meeting its technology, information, tools and software needs.
CadSoft is best known for its engineering design software programme EAGLE, which has been sold to more than 40,000 designers in Europe and the US.
Harriet Green, chief executive of Premier Farrell, said the company was "excited" by the acquisition as it offers customers "access to industry leading software and our outstanding range of products and support".
Developers of the EAGLE software will remain with the business as part of the integration with the company, who bought the shares from CadSoft Computer's two founders.
Premier Farnell had earlier announced a drop in pre-tax profits to £16.2 million in the second quarter. Revenue fell by 17% compared with the same period in 2008, to £183.7 million. The half-year figures revealed a 16% drop in revenue to £388 million, and a 40% fall in pre-tax profits to £25.2 million compared with last year.
Copyright © Press Association 2009