TTI, Inc. Acquires Symmetry Electronics
Fort Worth, TX and Hawthorne, CA – TTI, Inc. today announced the acquisition of Symmetry Electronics, a privately held semiconductor component distributor headquartered in Hawthorne, California. Symmetry Electronics will operate as a wholly-owned subsidiary of TTI, Inc., current management will remain in place, Symmetry’s day-to-day activities and operations will not be affected by the ownership change.
Paul Andrews, TTI founder, Chairman and Chief Executive Officer, stated “The acquisition of Symmetry Electronics is a natural extension of our Specialist distribution model. TTI has long heard from customers their wish to have TTI-like semiconductor distributor as part of their supply chain, and from semiconductor manufactures their desire to have a distributor in their path to market with the focus, scale and commitment to inventory of TTI. In Symmetry we envision a path to ultimately providing, on a large, global scale, an answer to these wishes and desires.”
According to Symmetry co-founders Gil Zaharoni and Joe Caravana “There could be no more perfect fit for the continued success of our partners and employees than TTI. Our mission to bring technical value to our customers while driving demand for our suppliers through a focused line card is a strategy TTI has been successful with for decades. We are very pleased to be counted among TTI Inc. subsidiaries Mouser Electronics and Sager Electronics.”
Going forward, TTI will actively support Symmetry’s management team in accelerating investment in the business through inventory investment, expansion of the sales, marketing and engineering teams, and expansion of backend infrastructure.
Andrews added, “It’s a real pleasure to welcome the successful and hardworking people at Symmetry Electronics and their partners to the TTI and Berkshire Hathaway family.”
TTI, Inc. a Berkshire Hathaway company, is an authorized, specialty distributor of interconnect, passive and electromechanical (IP&E) components and the distributor of choice for industrial and consumer electronics manufacturers worldwide. Broader and deeper inventory, leading-edge products and custom supply chain solutions have established TTI as the leading specialist in electronic component distribution. Globally, the company maintains 1.2 million cubic feet of dedicated warehouse space containing over 850,000 component part numbers. Along with its subsidiaries, Mouser Electronics and Sager Electronics, TTI employs more than 4,700 employees and is represented in over 100 locations throughout North America, Europe and Asia. For more information about TTI, visit www.ttiinc.com.
About Berkshire Hathaway
Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B. For more information about Berkshire Hathaway, visit www.BerkshireHathaway.com.
Symmetry Electronics is an authorized, global, semiconductor distributor offering technical support, sales and distribution of wireless and video technologies. It serves customers with a worldwide sales and engineering team delivering technical services alongside an e-commerce experience. Founded in 1998, Symmetry Electronics is headquartered in Los Angeles with international offices in Mexico, Brazil, Canada and China. For more information about Symmetry Electronics, visit www.symmetryelectronics.com.