Datwyler Acquires Premier Farnell

One of the biggest makers of the Raspberry Pi, Premier Farnell, is being acquired by Datwyler Holding AG, a Swiss manufacturing company, for approximately $871 million.

Neil Harrison, CEO, Technical Components, Datwyler Group, will lead the combined companies, according to Reuters. The deal is expected to close by the fourth quarter of 2016.

Ulrich Graf, the Chairman of Datwyler, said in a statement, "Premier Farnell and Datwyler both have long and successful histories in high-service distribution for electronic components. By combining forces, we expect to significantly increase our competitiveness and extend our product range, facilitating a one-stop-shopping experience for our wide range of customers from a multitude of industries."

The deal comes at a time when the UK has voted to leave EU. In a statement to Reuters, Datwyler said that Brexit won't affect the deal.

Premier Farnell was under a lot of pressure as it experienced a decline in sales. Last year it went through some tough decisions, cutting dividends and selling its industrial products division Akron Bras. In 2014, Premier Farnell went through a massive restructuring program, where it integrated its regional marketing and distribution operations into one global entity for streamlining resource sharing across regions.

The acquisition will give Premier Farnell the resources that it needs to stay competitive in the changing market.

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