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Publish Date : 22-Mar-2014

Premier Farnell, one of the world’s leading high-service distributors of technology products and solutions, has announced an agreement to acquire AVID Technologies, a privately owned engineering design services company based in Twinsburg, Ohio, for $13 million (USD). AVID’s design expertise includes analog, wireless, power management, Field-Programmable Gate Array (FPGA) and embedded technologies.

The acquisition is a key step in Premier Farnell’s strategic evolution and provides its customers with a wealth of new services and solutions. With the industrial control space a major focus for Premier Farnell, AVID’s expertise enables the company to offer unique design services, tools and turnkey solutions in the fast growing wireless, power management & FPGA technologies at the early stage of the electronic design cycle. Market segments served by AVID include industrial controls and automation, defense, aerospace, medical, automotive and wireless communications.

Premier Farnell CEO Laurence Bain said, "I am delighted to welcome AVID Technologies to the Premier Farnell group. 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 our potentials for market penetration. Most importantly, our customers will benefit from increased product development output and faster time to market. As a result we are able to provide services that are unequalled in our sector."

This acquisition further enhances Premier Farnell’s strategic goal to offer embedded board solutions, software development tools and design services to complement its current distribution of electronics components to design engineers. It also opens up new opportunities to work closely with its suppliers of these key technologies and bring their new products to market leveraging the powerful element14 Community and global online platforms.

"Our company’s legacy and ongoing commitment to quality, integrity and unique services has secured and grown a loyal customer base," said AVID President Richard Benson. "We’re excited about becoming a part of the Premier Farnell family and to contribute our expertise to its innovative customer-centric and multi-channel business model."

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