On March 1, Newark Element14, a world-renowned distributor of electronic components, announced the change of name to Newark, the name Newark used when it was founded in the 1930s.

Founded in 1934, Newark joined AC Farnell in 1996 and became Premier Farnell. In 2008, Premier Farnell began using the name of element14, and has become a world-renowned distributor of electronic components through continuous development.

In 2016, Element14 became the target of Avnet's strategic acquisition and was successfully acquired. Avnet said that the brands in Avnet's overall ecosystem are now gathering to provide simple and cohesive claims to customers and suppliers. Through a series of strategic acquisitions, Avnet continues to develop its capabilities to enable product manufacturers of all sizes to manage the entire product lifecycle – from conception to global distribution. Avnet is now able to support every phase of the product lifecycle and is the first distributor to offer a true end-to-end solution from the concept of prototype to mass production.