TTI, Inc.

Last updated
TTI, Inc.
Company type Subsidiary
Industry Electronics
Founded1971;53 years ago (1971) in Fort Worth, Texas, United States
Headquarters,
Key people
Mike Morton, CEO, TTI Inc.
Ash Bhuskute, CFO, TTI, Inc.
John Drabik, President, TTI IP&E Global
Glenn Smith, CEO & President, Mouser
Frank Flynn, President, Sager
Products Electronic components
RevenueIncrease2.svg US$ 9 Billion (TTI FOS 2023)
Owner Berkshire Hathaway
Number of employees
9,000+ (2023)
Website www.ttii.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.

Contents

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 3.5 million square feet of dedicated warehouse space globally. Over 2.7 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 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.

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

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

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

In 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]

In August 2022 subsidiary Exponential Technology Group acquires BGM Electronic Services, an engineering design services firm based in Auburn Hills, Michigan. [16]

In October 2022 TTI acquired Ecopak Power Ltd., a specialist UK and Ireland distributor of power supplies and LED drivers. [17]

In January 2023 subsidiary Exponential Technology Group acquired Braemac Pty. Ltd., an Australian based distributor of electronic components with 17 offices worldwide. [18]

In March 2023 RFMW acquires MRC Gigacomp and MRC Components, Germany based distributors of RF, microwave, millimeter-wave components in Germany, Austria, Switzerland, and Benelux. [19]

Subsidiaries

Subsidiaries include: [20] [21]

Acquisitions

North America

Europe


Asia

Oceania

Related Research Articles

<span class="mw-page-title-main">Agilent Technologies</span> American technology company

Agilent Technologies, Inc. is a global company headquartered in Santa Clara, California, that provides instruments, software, services, and consumables for laboratories. Agilent was established in 1999 as a spin-off from Hewlett-Packard. The resulting IPO of Agilent stock was the largest in the history of Silicon Valley at the time. From 1999 to 2014, the company produced optics, semiconductors, EDA software and test and measurement equipment for electronics; that division was spun off to form Keysight. Since then, the company has continued to expand into pharmaceutical, diagnostics & clinical, and academia & government (research) markets.

<span class="mw-page-title-main">Berkshire Hathaway</span> American multinational conglomerate holding company

Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. Founded in 1839 as a textile manufacturer, it underwent a drastic restructuring into a conglomerate starting in 1965 under the leadership of chairman and CEO Warren Buffett and vice chairman Charlie Munger. The company's main business and source of capital is insurance, from which it invests the float in a broad portfolio of subsidiaries, equity positions and other securities. Buffett and Munger are known for their advocacy of value investing principles and under their direction, the company's book value has grown at an average rate of 20%, compared to about 10% from the S&P 500 index with dividends included over the same period, while employing large amounts of capital and minimal debt.

Renesas Electronics Corporation is a Japanese semiconductor manufacturer headquartered in Tokyo, Japan, initially incorporated in 2002 as Renesas Technology, the consolidated entity of the semiconductor units of Hitachi and Mitsubishi excluding their dynamic random-access memory (DRAM) businesses, to which NEC Electronics merged in 2010, resulting in a minor change in the corporate name and logo to as it is now.

<span class="mw-page-title-main">Kyocera</span> Japanese ceramics and electronics company

Kyocera Corporation is a Japanese multinational ceramics and electronics manufacturer headquartered in Kyoto, Japan. It was founded as Kyoto Ceramic Company, Limited in 1959 by Kazuo Inamori and renamed in 1982. It manufactures industrial ceramics, solar power generating systems, telecommunications equipment, office document imaging equipment, electronic components, semiconductor packages, cutting tools, and components for medical and dental implant systems.

<span class="mw-page-title-main">Duracell</span> Battery and smart power system manufacturer of the United States

Duracell Inc. is an American manufacturer of alkaline batteries, specialty cells, and rechargeables; it is a wholly owned subsidiary of Berkshire Hathaway. The company has its origins in the 1920s, through the work of Samuel Ruben and Philip Mallory, and the formation of the P. R. Mallory Company.

<span class="mw-page-title-main">Murata Manufacturing</span> Japanese electronic components manufacturer

Murata Manufacturing Co., Ltd. is a Japanese manufacturer of electronic components, based in Nagaokakyo, Kyoto. It produces ceramic passive electronic components, primarily capacitors, and has a majority marketshare worldwide in ceramic filters, high-frequency parts, and sensors. As of March 31, 2013 Murata Manufacturing has 24 subsidiaries in Japan and 52 overseas in the United States, Canada, Mexico, Brazil, Germany, France, Italy, the United Kingdom, Switzerland, the Netherlands, Spain, Hungary, Finland, China, Taiwan, South Korea, Singapore, Malaysia, the Philippines, Thailand, Hong Kong, Vietnam and India.

Advantest Corporation (株式会社アドバンテスト) is a Japanese leading manufacturer of automatic test equipment (ATE) for the semiconductor industry, and a manufacturer of measuring instruments used in the design, production and maintenance of electronic systems including fiber optic and wireless communications equipment and digital consumer products. Based in Tokyo, Advantest produces Memory, SoC and RF test systems.

<span class="mw-page-title-main">Premier Farnell</span> High-service electronics components distributor

Premier Farnell Ltd is a distributor of products for electronic system design, maintenance and repair throughout Europe, North America and Asia Pacific, with operations in 36 countries and trading in over 100. In October 2016, the firm was purchased by Avnet in a deal valued at approximately £691 million.

Nexperia is a semiconductor manufacturer headquartered in Nijmegen, the Netherlands. It is a subsidiary of the partially state-owned Chinese company Wingtech Technology. It has front-end factories in Hamburg, Germany, Greater Manchester, England, and Newport, Wales. It is the former Standard Products business unit of NXP Semiconductors. The company's product range includes bipolar transistors, diodes, ESD protection, TVS diodes, MOSFETs, and logic devices.

<span class="mw-page-title-main">Integrated Micro-Electronics, Inc.</span>

Integrated Micro-electronics, Inc. provides electronics manufacturing services (EMS) and power semiconductor assembly and test services (SATS) with manufacturing facilities in Asia, Europe, and North America. Its headquarters is located in Biñan, Laguna.

<span class="mw-page-title-main">NXP Semiconductors</span> Dutch semiconductor manufacturer

NXP Semiconductors N.V. (NXP) is a Dutch semiconductor designer and manufacturer with headquarters in Eindhoven, Netherlands. The company employs approximately 31,000 people in more than 30 countries. NXP reported revenue of $11.06 billion in 2021.

ON Semiconductor Corporation is an American semiconductor supplier company, based in Scottsdale, Arizona. Products include power and signal management, logic, discrete, and custom devices for automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. onsemi runs a network of manufacturing facilities, sales offices and design centers in North America, Europe, and the Asia Pacific regions. Based on its 2016 revenues of $3.907 billion, onsemi ranked among the worldwide top 20 semiconductor sales leaders, and was ranked No. 483 on the 2022 Fortune 500 based on its 2021 sales.

<span class="mw-page-title-main">Mouser Electronics</span> American electronic components distributor

Mouser Electronics, Inc., is a global distributor of semiconductors and electronic components. With over $4 billion in annual revenue, Mouser is ranked as the seventh largest electronic component distributor in the world. The company has 28 locations globally and more than 3,900 employees. Mouser is part of the Berkshire Hathaway family of companies.

<span class="mw-page-title-main">Littelfuse</span> American electronic manufacturing company

Littelfuse, Inc is an American electronic manufacturing company headquartered in Chicago, Illinois. The company primarily produces circuit protection products but also manufactures a variety of electronic switches and automotive sensors. Littelfuse was founded in 1927. In addition to its Chicago, Illinois, world headquarters, Littelfuse has more than 40 sales, distribution, manufacturing and engineering facilities in the Americas, Europe and Asia.

SunEdison, Inc. is a renewable energy company headquartered in the U.S. In addition to developing, building, owning, and operating solar power plants and wind energy plants, it also manufactures high purity polysilicon, monocrystalline silicon ingots, silicon wafers, solar modules, solar energy systems, and solar module racking systems. Originally a silicon-wafer manufacturer established in 1959 as the Monsanto Electronic Materials Company, the company was sold by Monsanto in 1989.

<span class="mw-page-title-main">Marmon Group</span> American industrial holding company

Marmon Group is an American industrial holding company headquartered in Chicago, Illinois; founded by Jay Pritzker and Robert Pritzker in 1953, it has been held by the Berkshire Hathaway group since 2013. It owns companies that produce transportation equipment, electrical components and other industrial components, and companies that provide services in the construction and retail sectors. Tank car manufacturing is a significant part of its business, products which are sold through its subsidiaries Union Tank Car Company in the United States and Procor in Canada. Berkshire Hathaway, which owns the largest freight railroad carrier in North America, BNSF Railway, acquired controlling interest in Marmon in 2007 and became sole owner six years later.

Microsemi Corporation was an Aliso Viejo, California-based provider of semiconductor and system solutions for aerospace & defense, communications, data center and industrial markets.

<span class="mw-page-title-main">Bourns, Inc.</span>

Bourns, Inc. is an American electronics company that develops, manufactures and supplies electronic components for a variety of industries including automotive, industrial, instrumentation, medical electronics, consumer equipment and portable electronics.

<span class="mw-page-title-main">Tokyo Electron</span> Japanese semiconductor equipment manufacturer

Tokyo Electron Limited, or TEL, is a Japanese electronics and semiconductor company headquartered in Akasaka, Minato-ku, Tokyo, Japan. The company was founded as Tokyo Electron Laboratories, Inc. in 1963.

Allient Inc., formerly Allied Motion is an American public corporation headquartered in New York, United States that produces precision and specialty motion control components and systems for commercial, industrial, medical, vehicle, aerospace and defense markets.

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.
  3. "TTI, Inc. Acquires French-Based Connector Distributor Mateleco". www.businesswire.com. October 1, 2008.
  4. 1 2 "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. 1 2 "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. 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.
  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.
  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's Exponential Technology Group Announces Acquisition of BGM Electronic Services". Symmetry Electronics. Retrieved 2023-06-20.
  17. "TTI Europe acquires Ecopac Power | TTI Europe". www.ttieurope.com. Retrieved 2023-06-20.
  18. "Exponential Technology Group Acquires Braemac Pty Ltd". www.businesswire.com. 2022-12-15. Retrieved 2023-06-20.
  19. "RFMW Press Release" (PDF). 2023-03-03.
  20. "TTI Global Companies". www.ttii.com. Retrieved 2021-02-04.
  21. "TTI Subsidiaries". www.ttii.com. Retrieved 2021-02-04.
  22. "TTI buys passives distributor Capsco Materials | EE Times".
  23. "TTI Acquires Sager Electronics". www.sager.com. Retrieved 2020-12-03.
  24. "StackPath". www.sourcetoday.com.
  25. "TTI Acquires NPCS Autotronics". August 29, 2012.
  26. "TTI Inc. Acquires Ray-Q Ltd". Aerospace Manufacturing and Design.
  27. "TTI Acquires HuaTong Electronic Co., Ltd. by TTI DirectIndustry". trends.directindustry.com.
  28. ""Exponential Technology Group Acquires Braemac Pty Ltd."". Business Wire . 15 December 2022.