Premier Farnell, manufacturer of the Raspberry Pi, sold to Swiss rival for £615m

Swiss roll for Raspberry Pi maker?

Premier Farnell, the electronics company that makes the popular Raspberry Pi computer, has agreed a sale to Swiss rival Datwyler for £615m.

"The board of Premier Farnell has announced today that it has reached agreement with the board of Datwyler Holding Inc on the terms of a recommended offer by a wholly-owned subsidiary of Datwyler to acquire the entire issued and to be issued share capital of Premier Farnell," said a statement on the company's website.

It's not been plain sailing for Leeds-based Premier Farnell - which was founded in 1939 - for most of the Raspberry Pi's lifetime, however, with the 2013 decision to bring 100 per cent of RPi manufacture to the UK leading to supply problems.

Premier Farnell issued a profit warning in July 2015, and chucked out its CEO Laurence Bain. Apart from Raspberry Pi, the company has continued to see a slow, but steady, decline in sales.

CEO Jos Opdeweegh, added: "The sales trends of 2015/16 continued into the first quarter of this financial year, with strength in Continental Europe and Asia Pacific and difficult trading conditions in North America and UK. We remain on track to make progress in this financial year, as we increase our operational efficiency and relevance to customers, and we implement the outcomes of our operational review."

Nevertheless, Opdeweegh - who has seen Premier Farnell shares hike by 51 per cent since the announcement late yesterday - says he is "pleased" to have reached the Datwyler agreement.

"I believe the combination of the two companies represents a strong strategic fit and is highly attractive for customers, shareholders and colleagues," he said.

Raspberry Pi passed five million sales in February 2015.