Premier Farnell announces that it has acquired the entire issued share capitalof CadSoft Computer GmbH, a leading German-based developer and supplier ofspecialist computer aided design (CAD) software for design engineers and thebusiness of CadSoft Computer Inc., in the US.CadSoft has operated for 20 years in its chosen market and, during that time,has provided its CAD software, known as EAGLE, to over 40,000 design engineers,throughout Europe and the USA building a strong reputation with this customerbase for quality and value.Premier Farnell is a leading high service distribution group focused on theneeds of electronic design engineers and purchasing professionals globally. Theacquisition of CadSoft is an enhancement to this core strategy as the companyfocuses on meeting engineers’ needs for technology, information, tools andsoftware, as well as internationalising its proposition and services for therapidly developing Asian markets.Commenting on the acquisition CEO Harriet Green said “We are excited by theopportunity this acquisition affords us to attract new design engineeringcustomers as we offer them access to industry leading software and ouroutstanding range of products and support. The EAGLE software will enable us tofacilitate design exchange between engineers through element14, our designcommunity, which when combined with our leading edge transactional websitesoffers customers a complete online solution to their purchasing and designneeds”.The shares of CadSoft Computer GmbH are being acquired from its two founders,who developed the EAGLE software and who will remain with the business foragreed time periods as part of the integration with Premier Farnell. The USbusiness and certain of its assets are being acquired from CadSoft ComputerInc.The total purchase consideration has been satisfied in cash and consists of €7million paid on completion and potential further payments not exceeding €5million based on criteria specified in the sale and purchase agreement.
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