The deal values Premier Farnell shares at 165p each. The shares soared 50% to 164p after the takeover was announced.
Daetwyler distributes more than 500,000 electronics products under brands such as Nedis.
Premier Farnell has been trying to put its business on a firmer footing in recent months.
It has cut dividend payouts to shareholders, and sold its industrial products business, Akron Brass, for  $224.2m.
Eben Upton, the pioneer of the Raspberry Pi, was made a CBE in the Queen's latest Birthday Honours list.
The Pi has proved hugely popular with electronics hobbyists and many children use the devices to get a taste of computer coding.
In April 2016, the Pi became the most popular British computer ever made.
More than eight million have been sold since it was launched in early 2012.
The maker of the Raspberry Pi mini computer is being bought by Swiss electronics company Daetwyler Holdings for 1bn Swiss francs (£700m).