TTI’s Exponential Technology Group Announces Acquisition of BGM Electronic Services
Thursday, August 11, 2022
Fort Worth, TX – August 2022 – BGM Electronic Services (BGM), a privately held Engineering Design Services firm based in Auburn Hills, Michigan was acquired by TTI’s Exponential Technology Group (XTG), a leading specialty distributor of electronic components.
BGM will continue to operate under the BGM brand name, and Terry Bishop, company founder, will remain in charge of the business as President, reporting to XTG President and TTI SVP Business Development, Michael Knight.
Commenting on the announcement, Knight said, “The acquisition of BGM is part of a larger business strategy to assist our customers with component selection and sourcing, product design, and the transition of the finished design into manufacturing. BGM joins two other electronic design service firms that are part of XTG - Connected Development headquartered in Cary, North Carolina, and Paragon Innovations headquartered in Richardson, Texas – and brings our collective hardware, software, and mechanical engineering headcount to over 80 people. As part of the TTI Family of Specialists, which includes Mouser Electronics, this group is attached to one of the largest inventories of electronic components on the planet. Once component vendors and part numbers have been selected, inventory is pipelined to support prototyping, pre-production, and even production builds, establishing a component supply chain for every project as early as possible in the product’s lifecycle. In a time like now with extended component lead times and chronic supply chain disruptions, this capability is a difference maker for our customers.”
Terry Bishop said “We know and work closely with the component specialists at TTI and their subsidiaries, Mouser Electronics and the Exponential Technology Group. They get us and we get their vision for the electronic component supply chain of the future. The synergies are exciting, and our entire team is thrilled to join this world-class organization. As part of a group owned and backed by Berkshire Hathaway, our ability to scale for our customers is set to go to a whole new level.”