Electronics Production | September 24, 2009
Farnell to acquire CadSoft Computer GmbH
Premier Farnell has acquired the entire issued share capital of Germany-based CadSoft Computer GmbH and the business 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 customer base for quality and value. The acquisition of CadSoft is an enhancement to this core strategy as the company focuses on meeting engineers' needs for technology, information, tools and software, as well as internationalising its proposition and services for the rapidly developing Asian markets. 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 for agreed time periods as part of the integration with Premier Farnell. The US business and certain of its assets are being acquired from CadSoft Computer Inc. The total purchase consideration has been satisfied in cash and consists of €7 million paid on completion and potential further payments not exceeding €5 million based on criteria specified in the sale and purchase agreement.