Paragon Innovations, a privately held Engineering Design Services firm based in Richardson, Texas, has been acquired by Berkshire Hathaway’s TTI’s Exponential Technology Group (XTG), a leading specialty distributor of electronic components.
Paragon Innovations will continue to operate under the Paragon Innovations brand name, and Michael Wilkinson, company founder 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 success and growth, we join Exponential Technology Group at TTI to complement their services and serve a broader clientele,” said Mike Wilkinson. “We look forward to this new venture and becoming part of the team.”
Commenting on the announcement, Knight said, “The Paragon team significantly expands the strength and capabilities of the design services offering within the Exponential Technology Group at TTI. The firm has a remarkable reputation and customer base that has been crafted over the course of thirty years of helping OEM’s big and small bring innovative new products to market. Their involvement runs from the concepting phase through full product design, proof of concept, testing and certification, and readiness for manufacturing.” He further observed, “Paragon perfectly complements Connected Development, the Raleigh, North Carolina IoT design services firm that was acquired by TTI in January of last year. Together, the two companies deploy over 50 electronic hardware, software and mechanical engineers who are experts in a full range of wireless and RF protocols, sensor connectivity, cellular certification, component selection and design for manufacturing.”
The acquisition allows Paragon the opportunity to partner with specialty electronic components distributors and design services that will strengthen its ability to provide services under one corporation, resulting in faster and better services to clients.
© 2021 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.