Phoenix-based Avnet, an electronics and global technology distributor, celebrated it’s 50th anniversary as a public company on the New York Stock Exchange (NYSE) by ringing the closing bell on Dec. 15. Front and center at the bill ringing was Avnet Chairman and CEO Roy Vallee.
“We think our founders would be proud of the fact that we are now one of only 350 companies that have been listed on the New York Stock Exchange for 50 years,” Vallee said. “This milestone distinguishes Avnet as a premier company — one with demonstrated adaptability, a strong culture and conservative financial discipline. These positive attributes have allowed us to grow steadily and profitably over time and become the global leader in technology distribution.”
At the time the company was first listed on the NYSE, Avnet’s market capitalization was $37 million. Today, the company’s market capitalization is approximately $5 billion.
Avnet is one of the largest distributors of electronic components, computer products and embedded technology, serving customers in more than 70 countries. For the fiscal year ended July 3, 2010, Avnet generated revenue of $19.16 billion.