29 Jul '16, 2pm

RasPi Maker May Be Sold to Avnet

RasPi Maker May Be Sold to Avnet

TORONTO—A recent change in leadership and double digit sales drops in its last quarter is not keeping Avnet Inc. from making acquisitions. The Phoenix, Arizona-based component distributor has agreed to buy Premier Farnell Plc $911 million, edging out a bid by Daetwyler Holding AG of Switzerland. If the deal goes through, it will be the largest acquisition to date for Avnet. Based in the English city of Leeds, Premier Farnell is the maker of the low cost Raspberry Pi mini-computer, designed to get people online affordably and learn to code. Reuters reported that its board plans to recommend Avnet’s offer and drop support for Daetyler’s bid made last month, although spokesperson told that media outlet it was discussing further proceeding. In the meantime, investors appear to responding favorably to the deal. Both Premier Farnell and Avnet have had some financial woes of late...

Full article: http://www.eetimes.com/document.asp?doc_id=1330231&_mc=RS...

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