back to article Raspberry Pi distributor Premier Farnell in £792m Swiss buyout deal

Premier Farnell, British Raspberry Pi distribution firm, is set to be purchased by Swiss group Dätwyler Holding for £792m. In a letter to investors released today Premier Farnell said an agreement had been made to allow Dätwyler to take over the company, subject to shareholder and regulatory approval. Leeds-based Premier …

  1. GrumpyOldMan

    Yet another British company ownership going abroad - along with the profits.

    1. Commswonk Silver badge

      Yet another British company ownership going abroad - along with the profits.

      My heart agrees with you, and yet my head tells me that with shares available for anyone to purchase there is nothing to prevent it happening.

      I suppose we could all make ourselves feel a bit better about it by calling it "inward investment"; as good an example of weasel words as can be found anywhere. Much favoured by one Gordon Brown IIRC.

      1. Buzzword

        Growth is good

        It's generally a good thing. Here's how it works:

        1. A canny British entrepreneur sets up a new business with his savings, and grows it into a tidy operation.

        2. Foreign investor buys up the business. Cue much wailing and gnashing of teeth.

        3. Original founder now has lots of cash, lots of experience, and time on his hands. He (or she) sets up another new business, creating more jobs and growth, and giving more consumers what they want.

        Rinse and repeat.

        It doesn't matter whether the buyer is foreign or domestic; what matters is that the entrepreneur can cash out of the boring mature business and concentrate on setting up innovative new businesses.

        1. John Brown (no body) Silver badge

          Re: Growth is good

          "3. Original founder now has lots of cash, lots of experience, and time on his hands. He (or she) sets up another new business, creating more jobs and growth, and giving more consumers what they want.

          Rinse and repeat."

          That might be the normal practice in other parts of the world, but in the UK what seems to happen is founder sells out, gets rich, gets a gong from the PM and becomes a government "advisor" or "tsar of something". Note. That's a generalisation, exceptions may occur.

    2. Chemist

      "Yet another British company ownership going abroad - along with the profits."

      So no UK company has ever bought a foreign company and returned the profits to the UK ?

    3. Destroy All Monsters Silver badge
      Holmes

      Muh profits!!!

      > along with the profits

      Mercantilist thinking!

      Consider:

      1) Profits will be in GBP

      2) To "go abroad" they need to be converted to CHF

      3) This conversion increases the value of the CHF but depresses the one of the GBP

      4) Owners of GBP (i.e. Island inhabitants) will be able to import more for less GBP

      1. Evil Auditor Silver badge

        Re: Muh profits!!!

        @Destroy All Monsters

        Your idea is on the right track, i.e. it is not a bad thing when British businesses are sold abroad (cf. Buzzword above), but with dodgy reasoning. When the GBP is being devalued the effect will be that the island inhabitants can import less for the same amount of GBP.

    4. unitron

      Did you show similar concern for the US when Farnell bought MCM Audio?

  2. inmypjs Silver badge

    FFS calling Farnell a Raspberry Pi distribution firm is like

    calling ASDA a birds eye fish finger distribution firm.

    They show stock of more than 54,000 different types of surface mount resistors for example.

    1. Snowy

      Re: FFS calling Farnell a Raspberry Pi distribution firm is like

      Aye just what I was going to say, have an upvote!

      1. m0rt

        Re: FFS calling Farnell a Raspberry Pi distribution firm is like

        Yeah but this is El Reg. 'Foxconn rebrander' for example for Apple.

        Though, Farnell should be given the title of:

        'Distributor of really nice magic smoke sparkles'

  3. Mixedbag

    Payment terms

    I hope they ensure they pay for it on time in full.

    Their accounts department are efficient

    Go 1 pence over your payment terms by 1 hour and they wont ship you anything until you've settled up.

    1. inmypjs Silver badge

      Re: Payment terms

      "I hope they ensure they pay for it on time in full."

      I have taken to paying with a credit card which gives me some cashback, but, more significant is the 5.5% cashback for simply entering their site via Topcashback when you place an order.

      Can't help wondering how many buyers in companies are pocketing substantial amounts from that little wheeze.

      I think their management/marketing is batshit crazy.

      The Element 14 facebook for engineers drivel, with the likes of Ben Heck appealing to the (gobby on new media) maker crowd who don't actually have any money.

      Buying eagle - why? Then becoming soul distributor for one of its main competitors Altium Circuitstudio - crazy.

      5% backhanders to websites which redirect customers who already have accounts - crazy.

      1. Dabooka Silver badge

        Re: Payment terms

        @inmypjs

        Shhhhush!

        You're giving the game away

    2. The Godfather

      Re: Payment terms

      They in turn I recall frequently took 60+ days to pay

  4. M.Zaccone
    Joke

    50% premium?

    Obviously they aren't too worried about the risk of a vote in favour of leaving the EU.... I'll get my coat

  5. Richard Plinston

    Raspberry Pi distribution firm

    It was the only way to get hold of a Pi Zero.

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