Raspberry Pi manufacturer bought by Swiss tech firm

Tue, 14 Jun 2016 | BUSINESS SALE

The manufacturer of the most popular British computer, the Raspberry Pi, has been bought out by a Swiss technology and electronics company.

The deal, which is worth 1 billion Swiss francs (£700 million), will see Raspberry Pi manufacturer Premier Farnell being acquired by Daetwyler Holdings. The Swiss-based industrial supplier valued shares in the London-based Premier Farnell at 165p each, with shares in the computer company rising 45 per cent to 162p after the announcement was made.

In an effort to put the company on a surer financial footing in recent months, Premier Farnell cut the dividends to shareholders and sold its industrial parts division Akron Brass for just under £160 million.

Premier Farnell has sold more than eight million Raspberry Pi computers since it was launched in 2012. The three models released so far have proved popular with education institutions and computer hobbyists due to its remarkably simple, stripped-back design. In April 2016, the Raspberry Pi became the most popular British-made computer ever made.

Ulrich Graf, the chairperson for Daetwyler Holdings, said of the deal: “Premier Farnell and Daetwyler Holdings both have long and successful histories in high-service distribution for electronic components.

“By combining forces, we 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.”

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