Archive | Avnet

Avnet Acquires Dragon Innovation

Dragon hunter: Bill Amelio, chief executive officer of Avnet

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Avnet Profit Edges Ahead in Q3

Avnet boosted profits to $114.3m in the third quarter of its financial year, up from $107.1 last year. The distributor also reported an 8.8% increase in revenues to $4.44bn “Our organic revenue grew 3.4% sequentially in constant currency and adjusted operating income increased 4.8%. Our investments in e-commerce continue to yield results as digital sales […]

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Avnet Elevates Bel Fuse Deal To Global Status

Avnet has extended its franchise agreement with Bel Fuse. The distributor will now offer Bel’s full line of power products, circuit protection, magnetics and interconnect solutions globally to customers in the Americas, Europe and Asia. “With our extensive global technical and supply chain resources, Avnet’s IP&E specialists can streamline global sourcing of Bel’s diverse product […]

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Avnet Names Lutostanski To Oversee IoT Strategy

Avnet has appointed a senior executive to oversee its Internet of Things (IoT) strategy. Lou Lutostanski becomes vice president of Internet of Things (IoT) and will report to Pete Bartolotta, chief transformation officer for Avnet. In his new role, Lutostanski will strengthen Avnet’s IoT strategy and further Avnet’s reach to makers, entrepreneurs, startups and other […]

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Avnet EM Boss Gerry Fay Leaves Distributor

Gerry Fay, President of Avnet Electronics Marketing (EM) is leaving the global distributor. He will depart the company to pursue external opportunities.  Avnet says it will be making more changes to streamline operations and better position Avnet for long-term profitable growth. “During the past 12 years, Gerry has contributed immeasurably to Avnet,” said William Amelio, […]

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Avnet Outlines Plans For Premier Farnell

Following its acquisition by Avnet, Premier Farnell will continue to operate as a separate company, there will be more investment in Premier Farnell, and the Premier Farnell branding will be clarified. And as it seeks to cement a position as the only electronic component distributor offering a route from customer idea to volume production Avnet […]

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Avnet Q1 Focuses On The Future

Avnet’s first quarter 2017 results were inevitably dominated by an acquisition and a divestment. The acquisition of Premier Farnell is now a done deal and will release $70m to $80m in synergies. The sale of Avnet’s Technology Solutions (TS) business to TechData will be completed by Q3/Q4 of this financial year. Avnet will transition to […]

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Avnet Completes Premier Farnell Acquisition

Avnet has completed its acquisition of Premier Farnell. It is described as an all cash merger for £1.85 per share, which equates to an equity value of approximately £691m. The acquisition was approved by Premier Farnell shareholders representing 99.9% of the votes cast and has received all regulatory approvals. Avnet says that the transaction is […]

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Avnet Sells Technology Solutions Biz To Tech Data

Avnet’s deal to buy Premier Farnell has come into sharper focus now the global distributor has announced it will sell its Technology Solutions operating group to Tech Data in a stock and cash transaction valued at approximately $2.6bn. Under the terms of the agreement, Avnet will receive $2.4bn in cash and 2.8 million shares of […]

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Avnet Reports Q4 Sales Slowdown

Avnet has announced its results for the fourth quarter and fiscal year 2016 ended July 2, 2016. In Q4 sales were $6.2bn down 8% year over year and consistent with outlook “In the June quarter, our Technology Solutions (TS) group delivered seasonal sequential growth while Electronics Marketing (EM) sequential growth was below our normal seasonal range. […]

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