Premier expansion reaches China
Leeds based electronics distributor Premier Farnell has acquired a Chinese technology company in bid to expand to the fast growing Asian market.
Premier Farnell, who deal in distribution of technology products and solutions for electronic system design, maintenance and repair, have bought Shenzhen Embest Technology Co Ltd, a provider of embedded system development boards and tools as well as design engineering services with gross assets of approximately £0.5 million.
Premier Farnell was established in 1996 after Farnells’ purchased Premier Electronics which included Newark Electronics, MCM and Akron Brass brands. Since then the company have launched a range of companies including element 14, a design engineer community which allows engineers and experts to network in an online community.
This acquisition has enabled Premier Farnell to become a global web and engineering solutions provider while expanding into the Chinese market.
With more than 12 years experience in embedded systems designed, Embest has over 130 employees who serve 20,000 customers in China. Over 200 Chinese universities have used the companies educational products in their laboratories.
Laurence Bain, Chief Executive Officer of Premier Farnell, said: “This pivotal acquisition demonstrates our substantial commitment to attracting new design engineering customers and taking a bigger market share in the dynamic and rapidly expanding Asian market.”