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Premier Farnell Completes Sale Of Cadsoft To Autodesk

Mon, 27th Jun 2016 13:20

LONDON (Alliance News) - Premier Farnell PLC on Monday said it has completed the sale of Cadsoft Computer GmbH to a subsidiary of Autodesk Inc.

Premier Farnell will continue to distribute Cadsoft's design software on behalf of Autodesk. Financial details of the sale were not disclosed.

The proceeds of the sale will reduce Premier Farnell's reported net debt position at the end of January by around 8%, it said.

Earlier this month, Premier Farnell agreed to a a takeover offer from Swiss manufacturing company Datwyler Holding AG, in an all-cash deal that values Premier Farnell at GBP615 million.

Shares in Premier Farnell were trading up 0.1% at 164.71 pence Monday.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2016 Alliance News Limited. All Rights Reserved.

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