Premier Farnell due to take new US ownership

Shareholders in Leeds headquartered Premier Farnell, the electronics firm behind the Raspberry Pi computer, are expected to back US company Avnet’s £868m takeover offer next Monday as overseas buyers take more interest in successful UK companies. Recently, ARM Holdings was purchased by Japanese Softbank.

Avnet is one of the world’s largest global distributors of electronic components, computer and IT solutions, embedded technology and services, had its 185p-per-share offer accepted by the electronics maker last July, beating a 165p-per-share deal from Swiss industrial component maker Datwyler.

Premier Farnell is one of two makers of the low-cost Raspberry Pi, the credit-card sized computer board.

On Wednesday, the company’s half-yearly results are expected to say it is on track to deliver £957m in full-year sales, a 6pc rise.

After profit warnings, Premier Farnell sold off loss-making parts of the business, including its fire-fighting equipment company Akron Brass. It has also ended operations in Brazil.

Avnet, which sells electronic components, said the deal would “significantly strengthen” its dominance in the growing segment of “internet of things”.