Global technology solutions provider reaches centennial milestone
PHOENIX, US - MediaOutReach - 26 January 2020 - At a time of major global change, leading technology solutions provider Avnet(NASDAQ: AVT) is marking the company's 100thanniversary in 2021, joining an elite group of companies that have reachedtheir centennial. From its origins onRadio Row, the Manhattan warehouse district famous for its post-World War Ielectronics shops, to its current position as a top global distributor, Avnet hasspent the last century navigating the complex technology landscape and helpingits customers do the same.
This milestonerepresents a century of transformation and resilience, and Avnet's CentennialCentral website celebrates the people, values and foundation that have helpedthe company thrive over its 100-year history.
"Congratulations tothe employees, leaders, partners, shareholders and customers who have helpedthe company reach this landmark anniversary. Your talent, relationships andinnovative spirit will help us further drive technology forward in the nextcentury," said Phil Gallagher, CEO. "Less than one percent of U.S.-based companiesachieve this milestone. We are honored to join the elite group of companies thathave made it to their centennial. In one hundred years, Avnet has gone from asmall components shop to a global distributor and solutions provider firmly setat the center of the technology value chain. These last hundred years have beendriven by generations of employees who continue to shape and transform Avnet tomeet new market challenges and deliver world-changing technology solutions toour customers and suppliers."
Throughout theyears, Avnet embarked on a continuous transformation alongside theever-evolving technology market. Resiliency, adaptability and execution havebeen key as Avnet continues to enable its customers and acceleratetechnological development through its expertise in components distribution anddeep knowledge of the global supply chain. Today, Avnet is continuallystrengthening and evolving its core business, managing the complex globalenvironment with diverse revenue streams that drive top-line growth whilecontinuing to innovate and accelerate our differentiated capabilities such asdigital, Avnet Integrated and IoT solutions. The company continues to helpsupplier partners deploy their technologies to meet end customers' needs. Avnetis ranked #169on the FORTUNE 500, #579 on the Forbes Global 2000,and has been named one of Ethisphere's Most Ethical Companies for sevenconsecutive years.
- 1921: Avnet was founded by Charles Avnet, a 33-year-old Russian immigrant.
- 1940s: The company opened its first manufacturing facility to assemble state-of-the-art military antennas--remaining at the forefront of innovation by helping master this technology and condense delivery times to help the U.S. war effort.
- 1955: Avnet was incorporated.
- 1956: The company opened its second connector assembly plant near Los Angeles, Calif.
- 1959: Avnet goes public on the American Stock Exchange as Avnet Electronics Corp.
- 1965: Avnet purchased Guild Musical Instruments. Throughout the 1960s and 70s, the company made guitars and counted The Beatles and Richie Havens among its customers.
- 1968: Avnet landed on the moon for the second time. The company provided a range of zero-defect components to Hughes Aircraft, which built the Surveyor soft-landing lunar spacecraft. The fifth Surveyor touched down at the Tycho Crater on January 10,1968. This is also the same year that Avnet entered the Fortune 500, at #467.
- 1969: Avnet became the first technology distributor to place an order with Intel.
- 1975: Avnet operated 33 microprocessor demonstration centers, as semiconductor sales were almost triple that of connectors.
- 1979: Avnet opens the U.S. distribution industry's first Asia stocking location in Tokyo.
- 1984: When chip supply began outstripping demand and created an excess of inventory throughout the semiconductor industry in the 1980s, Avnet revolutionized the industry by centralizing and automating its inventory management in its first mega-warehouse in Peabody, Mass.
- 1987: Avnet launches a second mega-warehouse in Chandler, Ariz., linking the two with a proprietary online transaction processing computer system named "Genesis" in 1988.
- 1993: Avnet was the only distributor in the US to offer all five American semiconductor lines.
- 1997: Avnet Design Services is launched to meet customers' demand for engineering and technical assistance.
- 1999: Avnet opens a distribution center in Singapore and a warehouse in Hong Kong.
- 2000-2020: Avnet acquired 68 companies, including Premier Farnell, Softweb and Witekio.
- 2012: Farnell begins selling the first Raspberry Pi, the Model B. By 2020, Farnell had sold 15 million of the 30 million Raspberry Pis sold.
- 2021: Avnet celebrates its 100th anniversary with a continued commitment to furthering today's ideas into tomorrow's technologies.
- Celebrating 100 years throughout 2021: www.centennialcentral.com
- Creation of the100th anniversary logo: https://www.centennialcentral.com/avnet-logo-story/
- Charles Avnet's philosophy: https://www.centennialcentral.com/good-better-best/
- Avnet on the moon: https://www.centennialcentral.com/avnet-moon-landing/
- State-of-the-art in the '40s: https://www.centennialcentral.com/rosie-the-riveter-further-together/
As a leading global technology distributor and solutionsprovider, Avnet has served customers' evolving needs for an entire century. We supportcustomers at each stage of a product's lifecycle, from idea to design and fromprototype to production. Our unique position at the center of the technologyvalue chain enables us to accelerate the design and supply stages of productdevelopment so customers can realize revenue faster. Decade after decade, Avnethelps its customers and suppliers around the world realize the transformativepossibilities of technology. Learn more about Avnet at www.avnet.com.
Connect with Avnet on Facebook:
Connect with Avnet on LinkedIn: