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TTI, Inc.

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TTI, Inc.
Company typeSubsidiary
IndustryElectronics
Founded1971; 53 years ago (1971) in Fort Worth, Texas, United States
Headquarters
Fort Worth, Texas
,
United States
Key people
Mike Morton, CEO
Ash Bhuskute, CFO
Susan Sumners, SVP Information Services
Don Akery, President, TTI Americas
Glynn Dennehy, President, TTI Europe
Anthony Chen, President, TTI Asia
Glenn Smith, CEO & President, Mouser
Frank Flynn, President, Sager
Michael Knight, President, Exponential Technology Group
ProductsElectronic components
RevenueIncrease US$ 7.7 Billion (TTI FOS 2021)
Number of employees
8,000+ (2021)
ParentBerkshire Hathaway
Websitewww.tti.com

TTI, Inc., is a distributor of electronic components that include capacitors, resistors, connectors, switches, relays, circuit protection, electromagnetics, discrete semiconductors, sensors, RF modules, and antennas.

The company was founded by Paul Andrews in 1971. A former buyer for General Dynamics, the global aerospace and defense company, Andrews developed an approach to electronic component distribution with emphasis on available-to-sell inventory, supply chain programs, and the industry’s first, formal Total Quality Management program.

Andrews served as Chief Executive Officer until his passing in February 2021. Subsequently, 40-year employee and Chief Operating Officer Mike Morton was promoted to the position of CEO.

Originally named Tex-Tronics, Inc., Andrews changed the name to TTI, Inc., in 1973 to avoid a legal dispute involving another company with a similar name.

Founded to serve aerospace and defense equipment manufacturers, the company’s customers now include manufacturers in the transportation, industrial, medical, and communications sectors.[1]

TTI, Inc. and its wholly owned subsidiaries, also known as the TTI Family of Specialists (TTI FOS), Mouser Electronics, Sager Electronics, and Exponential Technology Group employ over 8,000 people at more than 136 locations throughout the Americas, Europe, Asia, and Africa.

TTI's global headquarters is located Fort Worth, Texas, the TTI Family of Specialists maintain over 3 million square feet of dedicated warehouse space globally. Over 2.2 million square feet of which is located in the Americas.

European headquarters is located near Munich, Germany; nearly 600,000 square feet of distribution capacity is maintained in Europe.

Asia headquarters is located in Singapore, with distribution centers in Singapore, Hong Kong and China, totaling over 300,000 square feet of distribution capacity.

TTI has seven proximity warehouses located in Mexico: Tijuana, Hermosillo, Chihuahua, Juarez, Acuna, Reynosa, and Guadalajara, with a combined distribution capacity over 100,000 square feet.

TTI is a wholly owned, indirect subsidiary of Berkshire Hathaway Inc.[2]

Relevant chronology

TTI, Inc., entered the European market in 1992 with its first office in Munich, Germany. Since that time the company’s European reach has spread to over 40 countries. In 2008, TTI acquired the Mateleco Group, a large connector distributor in France, becoming the primary distributor in both passives and connectors in France.[3]

TTI opened its first office in Asia in Singapore in 2000. Reach has since expanded to include three warehouses and 16 offices in 11 countries.

In 2000, TTI acquired Mouser Electronics, a broad-line catalog distributor based in Mansfield, Texas. Mouser is now a worldwide, authorized distributor of semiconductors and electronic components for over 700 industry manufacturers. The company focuses in the rapid introduction of new products and technologies for design engineers and buyers.[4]

In December 2006, Paul Andrews agreed to sell majority ownership of TTI to Warren Buffett controlled Berkshire Hathaway. The acquisition was completed on March 30, 2007.[5]

In 2012, Sager Electronics, a New England–based distributor with roots dating back to the 1800s, joined the TTI and Berkshire Hathaway family. Today Sager specializes in power products and services a North American customer base via headquarters in Middleborough, MA, and a national network of field account representatives and engineers, and a "Power Solutions Center"[clarification needed] in Carrollton, TX.[6]

TTI Israel was formally established in 2013 through the combined acquisitions of Net-Aye Components (acquired in 2010) and Ray-Q (acquired in 2013).[7][8]

In 2015, Sager Electronics announced the formation of Sager Power Systems, a focused group within Sager specializing in power products and the design of power supplies.

Semiconductor distributor Symmetry Electronics was added to the TTI Family of Companies in 2017. Symmetry is a technical distributor of wireless, cellular, Bluetooth, embedded and video semiconductor technology.[9]

In 2018, TTI acquired South Korean CHANGNAM, a specialty distributor of semiconductors principally focused on automotive, consumer electronics, industrial and wireless end markets, and RFMW Ltd., a RF and Microwave component distributor headquartered in Silicon Valley, California. Subsequently the company announced the formation of the new subsidiary, TTI Semiconductor Group.[10][11]

Also in 2018, the company acquired Compona AG of Switzerland and Compona’s German subsidiary Cosy Electronics GmbH. Both Compona and Cosy are distributors of interconnect products and provide services such as in-house assembly of specific connector ranges and support on custom cable harnesses.

July 2019 Sager Electronics completed the acquisition of Technical Power Systems (TPS), a specialist in the production of custom battery assemblies, headquartered in Lisle, Illinois.[12]

January 2020 Exponential Technology Group acquired Connected Development, a leading contract design firm specializing in wireless technology, headquartered in Cary, North Carolina. [13]

August 2021 Exponential Technology Group acquired Paragon Innovations, an engineering design services firm headquartered in Richardson, Texas.[14]

January 2022 TTI, Inc. acquired SMD, Inc., a specialty, authorized distributor of electronic and electrical components, services, and logistic solutions, headquartered in Irvine, California. [15]

Subsidiaries

Subsidiaries include:[16][17]

  • Mouser Electronics
  • Sager Electronics
    • PowerGate LLC[18]
    • Norvell Electronics[19]
    • Technical Power Systems
  • Exponential Technology Group
    • Symmetry Electronics
    • Changnam I.N.T.LTD.
    • RFMW Ltd.
    • Connected Development
    • Paragon Innovations

Acquisitions

North America

Europe

  • 2008 Mateleco Group
  • 2010 Flightspares
  • 2012 Campbell Collins
  • 2018 Compona AG (Cosy Electronics GmbH)

Asia

  • 2010 Net-Aye[7]
  • 2012 NPCS Autotronic[23]
  • 2013 Ray-Q[24]
  • 2014 HuaTong Electronics[25]
  • 2018 CHANGNAM I.N.T.LTD. (XTG)

References

  1. ^ "2010 top 25 global distributors | EE Times".
  2. ^ Freifeld, Karen (2020-12-02). "U.S. firms drawn into Trump admin's effort to identify firms with ties to Chinese military". Reuters. Retrieved 2020-12-03.{{cite news}}: CS1 maint: url-status (link)
  3. ^ "TTI, Inc. Acquires French-Based Connector Distributor Mateleco". www.businesswire.com. October 1, 2008.
  4. ^ a b "TTI to buy fellow distributor Mouser Electronics in first-ever acquisition | EE Times".
  5. ^ MarketWatch, Alistair Barr. "Berkshire agrees to buy privately held TTI". MarketWatch.
  6. ^ "StackPath". www.electronicdesign.com.
  7. ^ a b "TTI Acquires Net Aye Technologies". www.us-tech.com. 2020-12-02. Retrieved 2020-12-03.
  8. ^ "Berkshire Hathaway subsidiary TTI buys Israeli Ray-Q Ltd. – Jewish Business News".
  9. ^ a b Jorgensen, Barbara (July 5, 2017). "TTI Acquires Chip Specialist Symmetry Electronics".
  10. ^ Staff, FWBP (2018-01-03). "TTI Inc. acquires CHANGNAM I.N.T. Ltd". Fort Worth Business Press. Retrieved 2021-02-04.
  11. ^ "TTI, Inc. Announces Acquisition of RFMW". www.tti.com. Retrieved 2019-01-16.{{cite web}}: CS1 maint: url-status (link)
  12. ^ "Sager Electronics Completes Acquisition of Technical Power Systems". power.sager.com. Retrieved 2020-01-16.
  13. ^ "Connected Development Joins TTI Family of Companies". www.tti.com. Retrieved 2021-03-26.{{cite web}}: CS1 maint: url-status (link)
  14. ^ "Exponential Technology Group Announces Acquisition of Paragon Innovations | TTI, Inc". www.tti.com. Retrieved 2022-01-25.
  15. ^ "TTI Enters Purchase Agreement to Acquire SMD Inc. | TTI, Inc". www.tti.com. Retrieved 2022-01-25.
  16. ^ "TTI Global Companies". www.ttii.com. Retrieved 2021-02-04.{{cite web}}: CS1 maint: url-status (link)
  17. ^ "TTI Subsidiaries". www.ttii.com. Retrieved 2021-02-04.{{cite web}}: CS1 maint: url-status (link)
  18. ^ "Sager to Purchase Specialty Distributor PowerGate". electronics360.globalspec.com. Retrieved 2021-02-04.{{cite web}}: CS1 maint: url-status (link)
  19. ^ Jorgensen, Barbara (June 19, 2015). "2 Acquisitions in 2 Years: Sager Buys Norvell".
  20. ^ "TTI buys passives distributor Capsco Materials | EE Times".
  21. ^ "TTI Acquires Sager Electronics". www.sager.com. Retrieved 2020-12-03.
  22. ^ "StackPath". www.sourcetoday.com.
  23. ^ "TTI Acquires NPCS Autotronics". August 29, 2012.
  24. ^ "TTI Inc. Acquires Ray-Q Ltd". Aerospace Manufacturing and Design.
  25. ^ "TTI Acquires HuaTong Electronic Co., Ltd. by TTI DirectIndustry". trends.directindustry.com.
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