Raspberry Pi maker Premier Farnell bought by Daetwyler

June 14, 2016 9:00 am Published by

Raspberry Pi maker Premier Farnell bought by Daetwyler

  • 14 June 2016
  • From the section Business
Media captionThe new Raspberry Pi 3 has built in wi-fi and Bluetooth

The maker of the Raspberry Pi mini computer is being bought by Swiss electronics company Daetwyler Holdings for 1bn Swiss francs (£700m).

The deal values Premier Farnell shares at 165p each. The shares rose 45% to 162p following news of the takeover.

Daetwyler distributes more than 500,000 electronics products under brands such as Nedis.

Premier Farnell has been trying to put its business on a firmer footing in recent months.

It has cut dividend payouts to shareholders, and sold its industrial products business, Akron Brass, for $224.2m.

Coding

Eben Upton, the pioneer of the Raspberry Pi, was made a CBE in the Queen’s latest Birthday Honours list.

The Pi has proved hugely popular with electronics hobbyists and many children use the devices to get a taste of computer coding.

In April 2016, the Pi became the most popular British computer ever made.

More than eight million have been sold since it was launched in early 2012.

Categorised in:

This post was written by FSB News