Premier Farnell, the embattled electronics maker behind the Raspberry Pi mini computer, has been sold to Swiss conglomerate Dätwyler for £792m as it revealed weak sales in its home market.

London-listed Premier has been rocked by two profit warnings in the last year, forcing it to slash its dividend payout and prompting speculation of a takeover.

Swiss-listed Dätwyler, which has a market value of SFr1.76bn (£1.29bn), plans to merge the company with its UK operations. It owns a host of businesses alongside electronics, including food packaging, selling consumer electronics in Germany, and wholesaling ICT equipment to companies.

Under the deal, Dätwyler subsidiary Bidco will pay £615m for the entire share capital of Premier, which was demoted from the FTSE 250 index last September, representing a 51pc premium on its current share price of £1.09. Including the company’s debt and pension deficit, the value of the deal rises to £792m.

Ulrich Graf, Dätwyler’s chairman, said: “Premier Farnell and Dätwyler both have long and successful histories in high-service distribution for electronic components.”

He said the merger, which dashes speculation of a tie-up between Premier and Oxford-based Electrocomponents, will save SFr50m-60m a year in business synergies by the end of 2019, or up to £44m.

“By combining forces, we significantly increase our competitiveness and extend our product range, facilitating a one-stop shopping experience for our wide range of customers from a multitude of industries,” he said.