Premier Farnell to buy US-based design services firm
Premier Farnell has agreed to acquire US-based design services company Avid Technologies for $13m.
Component distributors have for some time recognised the importance of providing design tools and engineering discussion groups to support the selling of components.
Premier Farnell has taken this a stage further and acquired a design services firm, with experience in the areas of analogue, wireless, power management and embedded technologies.
“This acquisition illustrates perfectly how we are evolving our global strategy to establish partnerships with customers at the earliest stage of their designs,” said Premier Farnell CEO Laurence Bain.
We will broaden our “design capabilities and increases potential for market penetration,” said Bain.
A number of years ago Premier Farnell acquired CadSoft for its PCB design software, which the distributor now offers customers via its website.
It also has created the element14 online community for design engineers.
Now it intends to offer design services along with embedded boards and software development tools to support its core electronic component distribution business.
Avid was founded in 1985, and has 50 employees who will continue to work at their existing base in Ohio, US.