LEEDS, ENGLAND -- Premier Farnell today announced the sale of Cadsoft Computer to a subsidiary of Autodesk. The deal includes Cadsoft's Eagle PCB CAD software tools.
Autodesk plans to add Eagle its software portfolio. Premier Farnell will continue to distribute the Cadsoft product on behalf of Autodesk.
The action follows an operational review, initiated by Premier Farnell in July 2015, to strategically refocus its portfolio and concentrate on its core distribution business, while also reducing its net debt. The net proceeds of the disposal will have the effect of reducing Premier Farnell’s reported net debt position as of Jan. 31, 2016, by approximately 8%.
Premier Farnell reported net debt of £243 million as of Jan. 31, which was the close of its fiscal year. While neither company has yet disclosed the purchase price, it suggests Cadsoft was sold for about £19.5 million ($25.6 million).
Premier Farnell acquired CadSoft from its founders in September 2009 for €7 million in in cash and potential further payments of up to €5 million.
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