The acquisition is, Premier Farnell says, a key step its strategic evolution; with the industrial control space a major focus for Premier Farnell, AVID’s expertise enables the company to offer design services, tools and turnkey solutions in wireless, power management and FPGA technologies at the early stage of the electronic design cycle. Market segments served by AVID include industrial controls and automation, defence, aerospace, medical, automotive and wireless communications.
Premier Farnell CEO Laurence Bain said, “The team at AVID will benefit from our global network of production and distribution services, while Premier Farnell broadens its design capabilities and increases potential for market penetration. Most importantly, our customers will benefit from increased product development output and faster time to market.”
Premier Farnell adds that this acquisition further enhances its strategic goal to offer embedded board solutions, software development tools and design services to complement its current distribution of electronics components to design engineers.
AVID was founded in 1985, and currently has approximately 50 employees who will continue to work at their existing base in Twinsburg, Ohio. AVID Technologies Inc. will become part of a newly formed Technology Product Organisation which will report into David Shen, Premier Farnell Group Chief Technology Officer.
Premier Farnell; www.premierfarnell.com