Avnet

Avnet, Inc. is a global distributor of electronic components and technology solutions headquartered in Phoenix, Arizona, United States. The company was founded in 1921 by Charles Avnet, a Russian-Jewish immigrant, who initially sold surplus radio parts on New York’s Radio Row. It became incorporated in 1955 and has since grown into a leading provider of design, product, marketing, and supply chain solutions.

Avnet’s operations focus on enabling customers to bring products to market efficiently by offering services that include design support, supply chain management, and logistics. The company supports diverse markets, including aerospace, automotive, communication, and healthcare. In 2023, Avnet reported revenues of $26.53 billion, an operating income of $1.35 billion, and a net income of $1.18 billion.

Avnet went public in 1961 on the New York Stock Exchange and transitioned to Nasdaq in 2018 under the ticker symbol AVT. Over the decades, Avnet expanded through numerous acquisitions, including British Industries Corp., Channel Master, and Guild Musical Instruments in the 1960s, and more recently, Premier Farnell in 2016. In 2019, the company started accepting cryptocurrency payments through BitPay.

Avnet’s leadership is headed by Phil Gallagher (CEO) and Rodney Adkins (Chairman). The organisation employs approximately 14,500 individuals worldwide. It is committed to diversity, equity, inclusion, and sustainability through its Environmental, Social, and Governance (ESG) initiatives. The company supports employees with mentoring programs, skill development opportunities, and community engagement.

Avnet collaborates with major technology suppliers and has partnerships that span a global network. Its services range from assisting startups to scaling solutions for established enterprises, positioning itself as a vital player in the electronics and technology sector for over 100 years. Its focus on innovation and adaptability has made it an industry leader.

Avnet, Inc. was established in 1921 by Charles Avnet, a Russian-Jewish immigrant. Starting on New York City’s Radio Row, Charles began by selling surplus radio parts to customers. As the demand for factory-made radios increased in the mid-1920s, he adjusted his business by distributing components to manufacturers and dealers. He later diversified into car radio kits and automobile assembly kits. During the Great Depression, he shifted focus from retail to wholesale operations to sustain the business.

In the 1940s, during World War II, Avnet contributed to the war effort by manufacturing antennas for the U.S. armed forces. After the war, the company concentrated on trading surplus electronic and electrical parts. 

In 1955, the business was incorporated as Avnet Electronic Supply Company and focused on selling capacitors, fasteners, and switches. By 1960, it had made its first acquisition, British Industries Corp. (BIC), marking its entry into the consumer audio equipment market.

In the 1960s, Avnet acquired several companies, including Hamilton Electro Corporation, Valley Forge Products, and Channel Master Corporation, expanding into semiconductors, relays, and potentiometers. It went public on the New York Stock Exchange in 1961. Founder Charles Avnet passed away in 1964, and his son Lester became president and chairman. The company reached $1 billion in revenue for the first time in 1979.

In the 1980s and 1990s, Avnet expanded into the computer industry, becoming Intel’s first distributor and acquiring companies such as Kent Electronics Corp. In 1998, the company relocated its headquarters to Phoenix, Arizona.

In the 2000s, Avnet acquired several firms, including Bell Microelectronics and Premier Farnell, to enhance its capabilities in technology solutions. In 2019, Avnet partnered with BitPay to accept cryptocurrency payments.

Currently, Avnet operates as a global leader in electronic components distribution, with a presence in over 140 countries. The company focuses on providing design, supply chain, and logistics solutions across industries, maintaining its position as a trusted partner for technology development. Its leadership under Phil Gallagher (CEO) continues to drive its mission of advancing technological innovation.

Avnet’s mission is to help innovators and organisations transform ideas into real-world solutions by providing advanced technology, design support, and supply chain expertise. The company focuses on empowering businesses of all sizes to create, scale, and sustain products efficiently. Avnet enables its customers to deliver cutting-edge solutions by offering tailored services that address design challenges, improve manufacturing processes, and optimise supply chains. With over a century of experience, Avnet strives to create long-lasting value and partnerships, supporting its customers in adapting to technological advancements and market needs globally.

Avnet envisions a world where innovation drives positive change through technology. The company aspires to be the most reliable partner for organisations developing groundbreaking products and solutions. By fostering collaboration, supporting sustainability, and leveraging its expertise, Avnet aims to empower businesses to thrive in a constantly evolving market. It seeks to enable technological progress by bridging the gap between ideas and implementation. Avnet’s vision is to create an ecosystem where businesses can access the tools, resources, and expertise they need to advance and improve the quality of life worldwide.

Avnet was named among the World’s Most Ethical Companies by Ethisphere Institute, recognising its commitment to ethical business practices. The company has also earned multiple supplier awards from partners for its excellence in supply chain management and customer support. Avnet has been included in the Fortune 500 list, highlighting its significant revenue and global impact. Additionally, it received the Women’s Choice Award in 2024 as a top company for inclusion, millennials, and overall workplace culture, showcasing its dedication to diversity and employee well-being.

Avnet, Inc. is a global leader in distributing electronic components and providing technology solutions. It offers a wide range of products and services that cater to diverse industries, including aerospace, automotive, healthcare, communications, and consumer electronics. These products and services aim to support businesses in developing, manufacturing, and distributing their products effectively.

Avnet Products

Electronic Components
Avnet provides a comprehensive range of electronic components, including semiconductors, capacitors, resistors, connectors, and sensors. These components are sourced from leading manufacturers to ensure high quality and reliability. Semiconductors form a major part of its offerings, covering microcontrollers, memory chips, power management ICs, and more.

Interconnect, Passive, and Electromechanical (IP&E) Products
Avnet supplies IP&E components such as connectors, switches, relays, and passive components like capacitors and inductors. These components are critical for a wide range of applications, including industrial equipment, consumer electronics, and automotive systems.

Embedded Systems
Avnet offers embedded boards and systems that include microprocessors, development kits, and embedded computing modules. These products are designed to help customers integrate advanced computing capabilities into their products.

Power Management Solutions
Avnet provides power management products, including batteries, power supplies, and energy storage solutions. These are crucial for industries requiring efficient and reliable power delivery systems.

Kits and Tools
The company also supplies prototyping kits, design tools, and evaluation boards, which assist developers and engineers in testing and refining their designs.

Discrete Components
Discrete products, such as diodes and transistors, are available to support a variety of electronic designs, from basic circuits to complex systems.

Avnet Services

Design and Engineering Support
Avnet assists businesses in the design phase by offering technical expertise, engineering tools, and design services. It provides support through simulation tools, software solutions, and development platforms, enabling customers to build prototypes and test their ideas efficiently.

Supply Chain Solutions
Avnet offers advanced supply chain management services to optimise inventory, reduce lead times, and improve delivery schedules. Its solutions include demand forecasting, inventory management, and logistics planning, helping businesses maintain operational efficiency.

Logistics and Distribution
The company has a robust logistics network that ensures timely delivery of components and products. With warehouses and distribution centres across the globe, Avnet can meet the needs of businesses in different regions.

Manufacturing Services
Avnet provides contract manufacturing services, which include assembling, testing, and producing electronic products. This helps customers bring their designs to market faster and at lower costs.

IoT and Cloud Solutions
Avnet supports Internet of Things (IoT) development by offering IoT platforms, sensors, and connectivity solutions. It also partners with cloud service providers to deliver end-to-end solutions for IoT applications, helping businesses integrate data and analytics into their systems.

Post-Sales Services
The company provides lifecycle management services, including repairs, replacements, and product updates. These services ensure that customers can maintain the performance and reliability of their products over time.

Blockchain Payment Solutions
Avnet enables cryptocurrency payments through its partnership with BitPay, making transactions more flexible for its customers.