Premier Farnell buys AVID Tech for $13m
In a move aimed at better serving its customers through the product design cycle, Premier Farnell has agreed to buy AVID Technologies, a US-based engineering design services company, for $13million.
AVID's design expertise covers analogue, wireless, power management, FPGA and embedded technologies.
Market segments served by the firm include industrial controls and automation, defence, aerospace, medical, automotive and wireless communications.
"I am delighted to welcome AVID Technologies to the Premier Farnell group," said company ceo Laurence Bain, pictured. "This acquisition illustrates perfectly how we are evolving our global strategy to establish partnerships with customers at the earliest stage of their designs.
"The team at AVID will benefit from our global network of production and distribution services, while Premier Farnell broadens its design capabilities and increases potential for market penetration."
