Thursday, April 25, 2024

Premier Farnell a.k.a Element14 Could Be Bought By Avnet

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U.S. electric component distributor Avnet has agreed to buy Premier Farnell Plc, the British maker of the Raspberry Pi single board computer, for 691 million pounds.

This is the second company in the road to being bought out after ARM, as a result of “Brexit”. Ever since Britain voted to leave the European Union on June 23, overseas firms have flocked to Britain in search of deals made cheaper by the sharp decline in the pound.

It also comes close behind Avnet’s competitor Arrow preparing to buy UBM’s electronics and technical media portfolio of products for $23.5 million.

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If the deal to buy Premier Farnell, whose low-cost computers help millions get online and learn coding, goes through, it will be Phoenix-based Avnet’s largest ever acquisition. Premier Farnell said its board planned to recommend Avnet’s offer and drop its support for Daetwyler’s bid.



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