Avnet

Avnet, Inc.
Public
Traded as NYSE: AVT
Industry Electronics
Founded 1921, New York City
Headquarters Phoenix, Arizona, United States
Key people
 Rick Hamada, CEO
William H. Schumann, III, Executive Chairman
Kevin Moriarty, CFO
Revenue IncreaseUS$27.9B (FY 2015)[1]
IncreaseUS$828M (FY 2015)[1]
IncreaseUS$572M (FY 2015)[1]
Total assets IncreaseUS$10.8B (FY 2015)[2]
Total equity IncreaseUS$4.69B (FY 2015)[2]
Number of employees
 Approx. 19,100
Website www.avnet.com

Avnet, Inc. is a Business-to-business technology distributor headquartered in Phoenix, Arizona. Electronics Supply & Manufacturing magazine reports that Avnet Inc., a Fortune 500 company, may be the world's largest franchised distributor of electronic components and subsystems. Avnet has more than 50 centers and locations in more than 34 countries.[3][4][4]

History

In 1921, Charles Avnet, a 33-year-old Russian immigrant, began buying surplus radio parts and selling them to the public on the Radio Rows of United States port cities. In the mid-1920s, when factory-made radios began to replace radio parts, Avnet adjusted his distribution pipeline and began selling parts to manufacturers and dealers. During the Great Depression, Avnet shifted the focus from retailing to wholesaling.[5]

In the mid-1920s to the early 1930s, Avnet diversified by branching out into car radio kits and automobile assembly kits. In World War II Avnet made antennas for the U.S. armed forces. His son, Lester Avnet, joined the business at that time.[6]

Avnet was incorporated in 1955. In 1956 a second connector assembly plant was opened near Los Angeles for the aircraft industry. In 1959 the company went public on the American Stock Exchange. In the mid-1960s Avnet briefly owned several record labels including Liberty Records and Blue Note.[7] Over the next ten years Avnet expanded with several acquisitions in the new fields of semiconductors, relays, and potentiometers.[5] It also became a value-added distributor of IT products, and the largest customer/partner of IBM.

CEO leaders since the 1970s for Avnet have included Tony Hamilton, Leon Machiz, Roy Vallee, and Rick Hamada (current). Under Vallee the company acquired 60 companies and grew globally.

The company relocated its corporate headquarters to Phoenix (from Great Neck, NY) in 1998.

In July 2010, the company purchased Bell Microelectronics for $631M, at the time the largest acquisition in the company's history.[8]

It celebrated 50 years on the NYSE in December 2010; only 350 companies have been listed that long.

Operating Groups

Avnet Electronics Marketing

Avnet Electronics Marketing is a technology industry based marketing, distribution and services company. It primarily sells electronic components from various manufacturers and provides engineering design-chain services.

In Europe, the business consists of Avnet Memec Silica, Avnet Abacus, Avnet Embedded, and EBV. These operating entities are referred to as "Speedboats" within the business.

Avnet Technology Solutions

Avnet Technology Solutions handles complete systems and products. They primarily provide services for other companies who wish to purchase all of their technology and training from a single source.

Avnet Logistics

Avnet Logistics employs more than 1,600 people and occupies approximately 1,300,000 square feet (120,000 m2) of warehousing space in 16 global locations, principally in North America, Europe and Asia.[3]

Avnet provides technical services such as IC programming, connector and cable assembly, and tape-and-reel and customized packaging.[3]

Industry analysts say the key to Avnet's long-term success is its supply chain management solutions, which include forecasting component demand, distribution management, Vendor Managed Inventory (VMI) and Just in Time delivery.[3]

Offices

Avnet has locations in 34 countries. This list is incomplete.[9]

Acquisitions

Since Roy Vallee assumed the CEO post in 1998, the company has made more than 40 acquisitions. They are listed below[16][17]

Notes

  1. 1 2 3 Avnet (AVT) annual SEC income statement filing via Wikinvest.
  2. 1 2 Avnet (AVT) annual SEC balance sheet filing via Wikinvest.
  3. 1 2 3 4 Greenberg, Barry (April 1, 2007). "Avnet Logistics: Teaming up" (– Scholar search). Electronics Supply & Manufacturing.
  4. 1 2 "About Us: Avnet Takes the World's Leading Technologies to Market". Avnet. Retrieved 2007-12-14. "2007 Rank # 172"
  5. 1 2 "Charles Avnet and the Golden Age of Radio" (PDF). Avnet. Retrieved 2007-12-14.
  6. ↑ "Avent's History --Family beginnings". Avnet. Retrieved 2007-12-14.
  7. ↑ "Liberty Records". Archived from the original on 2 April 2008. Retrieved 2008-03-22.
  8. 1 2 "Avnet buys Bell Microproducts for $631 million". Arizona Business and Money. 2010-07-07. Retrieved 2015-09-02.
  9. ↑ "50 Years of Making History, Chapter 5" (PDF). Avnet. Retrieved 2007-12-05. "16 distribution, programming and value-added centers globally"
  10. ↑ "Contact Us". Avent. Archived from the original on 18 December 2007. Retrieved 2007-12-05. [Europe]
  11. ↑ "Business Partner Innovation Centers". IBM. Retrieved 2007-12-05. List of centers around the United States.
  12. ↑ "Business Partner Innovation Centers: Avnet Technology Solutions". IBM. Retrieved 2007-12-05. San Antonio office. The Avnet Technology Solutions' Business Partner Innovation Center (BPIC) facility shows several solutions for a number of industries, including many software systems. In addition the center will show services software on IBM hardware computers such as IBM System x, System i, System p, IBM eServer Linux and IBM BladeCenter blade servers.
  13. ↑ "Largest San Antonio Area Computer Vendors And Dealers. (San Antonio, Texas)". San Antonio Business Journal. July 6, 2001. Retrieved 2007-12-14.
    "Vendors and Dealers: Ranked by number of local employees
    1. Avent Computer Marketing 1 400 $970 6550 N. Loop 1604 E., 7824 247-1000, 377-3796 (DND) avnet.com"
  14. ↑ "Avnet Technology Solutions Launches IBM Business Partner Innovation Center; Customer-centric Showcase Provides Opportunity to Test, Design and Evaluate Complete Hardware and Software Solutions". Business Wire. July 18, 2006. "Avnet's Business Partner Innovation Center, which builds upon the success of its existing WebSphere Innovation Center, will showcase a wide range of IBM software and hardware platforms available to partners."
  15. ↑ "Briefs:S.A. center showcases IBM products, services". San Antonio Express-News: 02E. July 19, 2006. "Avnet Technology Solutions has 350 employees in a 120,000-square-foot (11,000 m2)-building at 6550 Loop 1604 in San Anonio. It is an operating group of Avnet Inc."
  16. ↑ "Avnet's History". Shareholder.com. Retrieved 2010-07-15.
  17. ↑ "Avnet Agrees to Acquire ROUND2". BusinessWeek.com. Retrieved 2011-12-19.

External links

Company links

Related company sites

Coordinates: 33°25′39″N 111°58′47″W / 33.42750°N 111.97972°W / 33.42750; -111.97972

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