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.”