Exponential Technology Group Announces Acquisition of Paragon Innovations
Fort Worth, TX (August 30, 2021) - The Exponential Technology Group (XTG), a member of the TTI Family of Specialists, today announced the acquisition of Paragon Innovations, a privately held engineering design services firm headquartered in Richardson, Texas.
The company will continue to operate as Paragon Innovations and company founder Michael Wilkinson will remain in charge of the business as Vice President and General Manager reporting to XTG President, Michael Knight. "After more than three-decades of growth, we join the Exponential Technology Group at TTI to complement their services and serve a broader clientele," said Mike Wilkinson. "We look forward to becoming part of the XTG team and the TTI Family of Specialists."
Commenting on the announcement, Knight said, "The Paragon team expands the strength and capabilities of the design services offering within the Exponential Technology Group. The firm has a remarkable reputation and customer base that has been crafted over the course of thirty years of helping OEMs large and small bring innovative new products to market. Paragon's involvement runs from concepting through full product design, proof of concept, testing and certification, and readiness for manufacturing."
Knight further observed, "Paragon's services uniquely complement those of Connected Development, the Raleigh, North Carolina IoT design services firm we acquired in January of 2020. Together, the two companies offer the talent of over 50 electronic hardware, software and mechanical engineers who are experts in the full range of wireless and RF protocols, sensor connectivity, cellular certification, component selection and design for manufacturing."
About Exponential Technology Group
The Exponential Technology Group (XTG) was created to provide customers a specialty semiconductor supply chain option formed in the ethical and hardworking spirit they are accustomed to from TTI and its subsidiaries. XTG joins Mouser Electronics and Sager Electronics in the TTI Family of Specialists, giving purchasing communities and manufacturers a well-funded and well-known global distributor backed by the strength of TTI and Berkshire Hathaway. For more information about XTG, visit www.xponentialgroup.com.
About Paragon Innovations
Paragon Innovations was founded in 1990 as a provider of engineering and product development services. Paragon creates new technologies and turns products into revenue for clients. Paragon serves Fortune 500 companies and startups and provides turn-key product development services from inception to market launch on time and on budget. For more information about Paragon, visit www.ParagonInnovations.com.
About TTI, Inc.
TTI, Inc., a Berkshire Hathaway company, is an authorized, specialty distributor of electronic components. Founded in 1971, the emphasis on a broad and deep product portfolio, available-to-sell inventory and sophisticated supply chain programs has established TTI as a distributor of choice to manufacturers in the industrial, defense, aerospace, transportation, medical and communications sectors worldwide. TTI and its wholly owned subsidiaries, the TTI Family of Specialists, Mouser Electronics, Sager Electronics and Exponential Technology Group employ over 7,300 people in more than 136 locations throughout North America, South America, Europe, Asia and Africa. Globally, the company maintains over 3 million square feet of dedicated warehouse space in 30 distribution centers, housing over 850,000 component part numbers. For more information about TTI, visit www.tti.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.