Company Overview Visit avnet.com website
Avnet, Inc. is an American multinational electronic components distributor headquartered in Phoenix, Arizona. It was acquired by Avago Technologies (now Broadcom Limited) for $6.6 billion on February 9th 2016.
Founded as a parts supplier to local television repair shops in Arizona, Avnet has grown into one of the largest distributors and technology suppliers serving the global electronics industry today with its platform spanning more than 100 countries and customer transactions exceeding 2 million each day. The company distributes many different types of products ranging from commercial and industrial grade equipment to consumables and semiconductors all under three major brands: Avnet Electronics Marketing, Premier Farnell and Newark element14. In addition to distribution services, they offer design engineering tools through Arrow and Avnet Technology Solutions and provide contract manufacturing and supply chain management services through Avnet Logistics.
Avnet, Inc. was founded in Phoenix, Arizona by Charles D. Gutmann who opened a five-and-ten cent store called Variety TV Service & Supply on March 3rd 1955. His intention was to focus on servicing television set repair shops rather than retailers or consumers directly but soon expanded his business to include storefronts under the name Electronic Parts Distributors, which operated 10 locations by 1958. In 1964, the company took its current name of Avnet Electronics Marketing after merging with his other company that mainly supplied semiconductors to local manufacturers.
Offering a full range of technology and industrial components, Avnet’s products serve many different technological sectors such as industrial automation, cloud computing and networking. The company is also dedicated to developing renewable energy sources such as solar, wind power and hydrogen fuel cells through their Green initiative which encourages the research and development of eco-friendly technologies.