Two months ago, Phil Gallagher re-joined Avnet—his employer for 32 years – after leaving Avnet and spending a year with specialty distributor TTI Inc. Gallagher, who was named president of Avnet’s Core Distribution business in April, returned to a different company than the one he left. Most significantly, Avnet has a new CEO; sold its…
It was in April of last year that Phil Gallagher joined TTI Inc. as corporate officer, senior vice president and member of CEO Paul Andrews’ executive staff, acting in the functional role as president, sales and marketing, TTI Americas. Gallagher had just come off a two-year hiatus after leaving Avnet Inc., his employer for 32…
There were two elephants in the room during Arrow Electronics Inc.’s third quarter conference call with analysts: the impact of Avnet Inc.’s sale of its Technology Solutions business to Tech Data Corp. and Texas Instruments Inc.’s decision to pull its component demand-creation sales efforts back in-house. Although analysts acknowledged that Arrow has no direct control…
Following the $2.6 billion sale of its Technology Solutions business to IT distributor Tech Data, Avnet Inc. is doubling down on its components business with an eye toward leadership in both design chain and supply chain services. With the acquisition of U.K-based Premier Farnell plc poised to move forward, Avnet expects to be a $17…
At the end of the year, Avnet Inc., the longtime global revenue leader in combined components and systems sales, is going to look very different from the company that recently celebrated more than 60 years in the electronics distribution business. $26.2 billion Avnet and its nearest competitor Arrow Electronics Inc., with sales of $23.28 billion…
In an apparent effort to focus more heavily on its components business, Avnet Inc. announced today that it will sell its Technology Solutions business to Tech Data for $2.6 billion in cash and stock. William Amelio, who was named CEO on Sept. 6, said the sale will allow Avnet and Tech Data to focus on…
The value of embedded systems in the distribution channel was reinforced in recent weeks as Avnet Inc. dedicated global sales and support resources to the embedded market segment. Ed Smith, president of Avnet Electronics Marketing, Americas, was named as senior vice president of Avnet embedded systems, global, earlier this year. For the past year, Smith has overseen both…
Avnet, Inc. grew global sales year-over-year by eight percent in fiscal year 2014, reaching $27.5 billion. This translates into organic sales growth of 5.2 percent year-over-year and 4.8 percent in constant currency. In addition to adding more than $2 billion in sales, Avnet also expanded margins and returns, and grew adjusted earnings per share at…