After over 40 years Memic name has disappeared from the distribution world . The company was established by Dick Skipworth in 1974 and run at first from his home, Memec – Microelectronics and Memory Company – shot to acclaim by revise the guidelines of how electronic components were derived and sold. Memec as a company was specialised in finding new components for new businesses – overwhelmingly on the US West Coast – and selling them aggressively into Europe. Earlier, distribution was more about fulfilment. In such a way company was so successful that when it went public in 1980, the offer was oversubscribed by more than 50 times..
Skipworth sold Memec to German company Veba in 1991 and than buying the business back in 2000,then offering it to Avnet in 2005. Presently, what was Avnet Memec has merged with Avnet’s Silica association, with the Memec name being relegated to history.