Electronics supplier Premier Farnell has acquired CadSoft Computer, a Germany-based developer of computer-aided design (CAD) software for engineers, for up to €12 million (£10.9 million). 

Electronics supplier Premier Farnell has acquired CadSoft Computer, a Germany-based developer of computer-aided design (CAD) software for engineers, for up to €12 million (£10.9 million).

CadSoft has provided its software, known as EAGLE, to over 40,000 design engineers. The company will be acquired from its two founders, who developed the software and who will remain with the business as part of the integration process.

Harriet Green, Premier Farnell CEO, said the acquisition of Cadsoft would attract new customers and enable the company to communicate better with design engineers.

Premier Farnell reported a 16 per cent decrease in revenue to £183.7 in the second quarter of the year, and pre-tax profits were down by 40 per cent to £16.2 million.