Premier has acquired the entire issued share capital of CadSoft Computer GmbH, a German-based developer and supplier of specialist computer aided design (CAD) software for design engineers and the business of CadSoft Computer 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.
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.