Avnet

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Avet, Inc.
Type Public
Traded as NYSEAVT
Industry Electronics
Founded 1921, New York City
Headquarters Flag of the United States.svg Phoenix, Arizona
Key people William H. Schumann, III, Executive Chairman
Kevin Moriarty, CFO
Rick Hamada, CEO
Revenue IncreaseUS$25.7B (FY 2012)[1]
Operating income IncreaseUS$884M (FY 2012)[1]
Net income IncreaseUS$567M (FY 2012)[1]
Total assets IncreaseUS$10.2B (FY 2012)[2]
Total equity IncreaseUS$3.9B (FY 2012)[2]
Employees Approx. 19,100
Website www.avnet.com

Avnet, Inc. is a technology Business-to-business B2B 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]

Operating Groups[edit]

Avnet Electronics Marketing[edit]

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

Avnet Technology Solutions[edit]

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[edit]

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]

History[edit]

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 largest customer/partner of IBM.

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

Tony Hamilton CEO 1980-1988

A charismatic businessman, Tony Hamilton turned his homegrown company, Hamilton Electro Sales, From a one-man operation in his garage into the largest technology distributor in the United States, the Hamilton/Avnet division of Avnet. His contemporaries credited much of his success to an unmatched ability to inspire people and nurture relationships. When it came to the business of business, Hamilton was a stickler for accountability.

‘Tony Hamilton brought to the distribution side a degree of customer understanding and vision for the role of a distributor” – Charlie Clough; former CEO, Wyle Electronics.

The company relocated its corporate headquarters to Phoenix (from Great Neck, NY) in 1998. It celebrated 50 years on the NYSE in December 2010; only 350 companies have been listed that long.

Origin of company name[edit]

The name Avnet is a family name that traces back to the company's founder Charles Avnet. His two sons (Lester and Robert) continued to run the family business business until 1970.[8]

Charles Avnet's granddaughter, Cindi Avnet, is the Director of Music Placement for the company MusicSupervisor.com.

Charles Avnet's grandson Jon Avnet sold his shares in the family business to pursue a career in the movie industry, using those resources to produce the successful 1983 movie Risky Business, which made Tom Cruise a star.[9][10][11]

Offices[edit]

Avnet has locations in 34 countries. This list is incomplete.[12] [13]

  • Poing [headquarters EMEA]

Poing is just outside of Munich. The Avnet EM Speedboats "Avnet Abacus", "Avnet Memec", "Silica", "EBV" are located at Poing.

  • San Antonio, [Center], 1,000-square-foot (93 m2) IBM Business Partner Innovation Center opened July 19, 2006. It's Avnet's only IBM Business Partner Innovation Center in North America, IBM has over 50 centers in the United States. The center will bring companies to San Antonio to see the latest in IBM technology and to test hardware and software. The center is the largest computer vendors/dealer in San Antonio.[15][16][17][18][19]

Competition and clientele[edit]

Avnet has segments in several different industries. This list is incomplete.

Competition

Direct Competitors
Electronic Components Distribution
Manufacturing Services
Logistics Services

Supplier

Acquisitions[edit]

Since Roy Vallee assumed the CEO post in 1998, the company has made more than 40 acquisitions. They are listed below[21][22]

Pepperweed Consulting, Sewickley, PA (2012); Genilogix (2012); Ascendant Technology, Austin, TX (2012); ROUND2, Austin, TX, USA (2012); Canvas, Norcross, GA (2012); Amosdec, Courbevoie, France (2011); IT exchange (ITX Group), Australia( 2011 ); Servodata HP Division, Czech Republic (2010); PT Datamation Purwana Utana and PT Mitra Bisinfo Utama, Indonesia (2010); Sunshine Joint Stock Company, Vietnam (2009); Vanda Group, China (2009); Avnet Technology Solutions Sanayi ve Ticaret A.S., Turkey (2009); Abacus Group Pic, Europe (2009); Nippon Denso Industry Co., Ltd., Japan (2008); Ontrack Solutions Pvt. Ltd., India (2008); Source Electronics Corporation, International (2008); Horizon Technology Group plc, UK, Ireland (2008); Azzurri Technology Ltd., Europe (2008); YEL Electronics Hong Kong Ltd., Hong Kong (2008); ChannelWorx, Australia (2007); Acal pic, Europe (2007); Betronik GmbH Division, Germany (2007); Magirus Enterprise Infrastructure Division, Europe (2007); Flint Distribution Ltd., United Kingdom (2007); Azure Technologies, Singapore (2007); Access Distribution, International (2006); ESCO Italiana, Italy (2006); Zeta Computer, Germany (2006); Printex Europe, Belgium, France, Italy (2006); Memec, International (2005); DNS Slovakia, Slovakia (2004); Gamma Optronik, Sweden (2002); Kent Electronics, North America (2001); Sunrise Technology Ltd., China (2001); RDT Technologies Ltd., Israel (2001); VEDA Electronics Distribution Group, Europe (2000); Savior Technology Group, Inc., North America (2000); SEI Nordstar, Netherlands (2000); Cosco Electronics/Jung Kwang, Korea (2000); PCD Italia S.r.I. and Matica S.p.A., Milan, Italy (1999); Marshall, El Monte, CA (1999); SEI Macro, Slough, Berkshire (1999); Integrand Solutions, Sydney, Australia (1999); Bridge International, São Paulo, Brazil (1999); JBA CSD, Mt. Laurel, New Jersey (1999); Gallium Electronics, Israel (1998); Max Electronics, India (1998); Optilas International SA, Pan-Europe (1998); Bytech Systems Ltd., UK (1998); CiNERGi Technology and Device Pte. Ltd., Singapore (1998); EXCEL-MAX Communications Pte. Ltd., Singapore (1997); ECR, Portland, OR (1997); KOPP Electronics Limited, South Africa (1996); Mercuries & Associates, Ltd., Taiwan (1995); Setron Schiffer-Elektronik GmbH & Co.KG, Germany (1995); VSI Electronics (New Zealand) Ltd. & VSI Electronics (Australia) Pty., Ltd., New Zealand, Australia (1995); Sertek, Inc., Newbury Park, CA, USA (1995); BFI-IBEXSA International, Inc., Pan-Europe (1995); CK Electronics, France (1995); WKK Semiconductors, Hong Kong (1995); Lyco Limited, Ireland (1995); Cable Assembly Operations of LaBarge, Flippin, AR (1994); Penstock, Inc., Sunnyvale, CA (1994); DeMico, Italy (1994); Adelsey, Italy (1993); Hall-Mark, Dallas, TX (1993); E2000, Germany (1993); Nortec, Scandinavia (1992); FH Tec Components, France (1992); Access, United Kingdom (1991)

Notes[edit]

  1. ^ a b c Avnet (AVT) annual SEC income statement filing via Wikinvest.
  2. ^ a b Avnet (AVT) annual SEC balance sheet filing via Wikinvest.
  3. ^ a b c d e f Greenberg, Barry (April 1, 2007). "Avnet Logistics: Teaming up" (– Scholar search). Electronics Supply & Manufacturing. [dead link]
  4. ^ a b "About Us: Avnet Takes the World's Leading Technologies to Market". Avnet. Retrieved 2007-12-14.  "2007 Rank # 172"
  5. ^ a b "Charles Avnet and the Golden Age of Radio". 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. ^ "Avnet Employer Info on CareerBuilder: About Us". CareerBuilder. 
  9. ^ "Recognizing Avnet, Inc's History at the Celebration of its 50th Year Since Incorporation". Avnet, Inc. (Phoenix, Arizona). 22 July 2005. 
  10. ^ "Avnet to celebrate 50th anniversary". Phoenix Business Journal. July 21, 2005. 
  11. ^ Larson, Jane (July 23, 2005). "Avnet takes a look back: At 50, electronic parts firm celebrates its history" (– Scholar search). The Arizona Republic. [dead link] Discusses the Avnet Technology Museum
  12. ^ "50 Years of Making History, Chapter 5". Avnet. Retrieved 2007-12-05.  "16 distribution, programming and value-added centers globally"
  13. ^ "50 Years of Making History, Chapter 6". Avnet. Retrieved 2007-12-05.  "Avnet boasts 16 distribution, programming and value-add centers globally"
  14. ^ "Contact Us". Avent. Archived from the original on 18 December 2007. Retrieved 2007-12-05.  [Europe]
  15. ^ "Business Partner Innovation Centers". IBM. Retrieved 2007-12-05.  List of centers around the United States.
  16. ^ "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.
  17. ^ "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"
  18. ^ "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."
  19. ^ "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 Antonio. It is an operating group of Avnet Inc."
  20. ^ Greenberg, "One of Avnet Logistics' major clients is Xilinx Inc...which has a long-established standard distributor partnership with Avnet but recently found itself in need of help to support a direct model."
  21. ^ "Avnet's History". Shareholder.com. Retrieved 2010-07-15. 
  22. ^ "Avnet Agrees to Acquire ROUND2". BusinessWeek.com. Retrieved 2011-12-19. 

External links[edit]

Company links[edit]

Related company sites[edit]

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