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Acquisitions TTI

Berkshire Hathaway’s TTI Acquires Paragon Innovations

(BRK.A), (BRK.B)

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.

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TTI

Marki Microwave Signs Distribution Agreement with Berkshire Hathaway’s RFMW

(BRK.A), (BRK.B)

RFMW, a wholly owned subsidiary of Berkshire Hathaway’s TTI Inc., has signed a global distribution agreement with Marki Microwave. Marki Microwave supplies the RF and microwave industry with a portfolio of high performance components including broadband, low conversion loss, and highly linear mixers, high directivity, low return loss couplers and directional bridges, well balanced power dividers and hybrid couplers, and many other products.

“We are thrilled to add Marki Microwave to our portfolio of industry leading RF manufacturers,” says Joel Levine, president of RFMW. “Marki’s innovative and expansive portfolio of products is a huge value add to RFMW’s existing RF, microwave, and mmWave product offerings. As an additional benefit, the company is committed to all-American assembly. We look forward to supporting the company’s growth trajectory while diversifying our product offerings to better address customer needs for the future.”

“Entering into this distribution agreement is a critical growth inflection point for our company because it will allow us to support new territories and expansion channels,” says Duncan Pilgrim, vice president of sales and marketing at Marki Microwave. “RFMW’s vast global distribution network and exceptional engineering support services will undoubtedly bring new opportunities to Marki as we expand our global footprint in the radio frequency and microwave markets.”

RFMW is a specialty electronics distribution company focused exclusively on serving customers that require RF and microwave components and semiconductors, as well as component engineering support.

© 2021 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, 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.

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TTI

Commerce Department Removes Berkshire Hathaway Subsidiary Erroneously Placed on Military End User List

(BRK.A), (BRK.B)

A Berkshire Hathaway company that was erroneously listed on a proposed U.S. Commerce Department list of Military End-Users in connection with China has been removed from the draft list.

A draft rule released by the U.S. Commerce Department’s Bureau of Industry and Security would add a new ‘Military End-User’ List to its regulations on military-use and end-user export controls.

An initial list of entities identified by BIS as “Military End-Users” in the new rule erroneously included Berkshire Hathaway’s TTI Electronics Asia PTE Hong Kong Ltd a subsidiary of Berkshire Hathaway’s US-based TTI, Inc.

In a statement, TTI said: “The action taken by BIS confirms our position that TTI HK is not a ‘Military End User’ nor does it maintain any ties to the Chinese military. Our customers, suppliers, and all business partners can rest assured that TTI and our affiliates globally are fully compliant with all laws and regulations in the locations where we do business, including all U.S. export control requirements.”

© 2020 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 the 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.

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TTI

Berkshire Hathaway Subsidiary Denies Ties to Chinese Military

(BRK.A), (BRK.B)

A company owned by Berkshire hatchway is denying that it is connected to the Chinese military, and says it has erroneously been listed on a proposed U.S. Commerce Department list of Military End-Users.

A draft rule released by the U.S. Commerce Department’s Bureau of Industry and Security would add a new “Military End-User” List to its regulations on military-use and end-user export controls.

An initial list of entities identified by BIS as Military End-Users in the new rule includes TTI Electronics Asia PTE Hong Kong Ltd a subsidiary of Berkshire Hathaway’s US-based TTI, Inc.

In a statement, TTI strongly denied that TTI HK is a MEU or that it maintains any ties to Chinese military. They note that they intend to take all available steps to demonstrate to BIS that TTI HK should not be included on the MEU List.

The company says that TTI HK is an authorized distributor of various electronic components, none of which is a military or defense item, and that TTI HK is not an end user or a manufacturer of any items.

“TTI can assure our business partners that neither TTI HK nor any TTI affiliate engages in dealings with the Chinese military. In fact, TTI and all of its affiliates, specifically including TTI HK, take extraordinary measures to ensure full compliance with all laws and regulations, including all US export controls requirements. We firmly believe that BIS has wrongly included TTI HK on the newly proposed MEU List. We want to assure our customers, suppliers, and all business partners that TTI and all of our affiliates have been and will continue to be fully compliant with all applicable laws and regulations, and that we will take all appropriate and available steps to demonstrate to BIS that TTI HK should not be included on the new MEU List.”

© 2020 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 the 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.

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TTI

TTI Named Molex 2018 Global Distributor of the Year

(BRK.A), (BRK.B)

Molex has announced that Berkshire Hathaway’s TTI is the recipient of its 2018 Global Distributor of the Year Award. This award recognizes one outstanding global channel partner each year for advancing Molex technology solutions through demonstrated growth in worldwide sales coupled with global financial, operational and executive management excellence. TTI grew 7% faster than the overall channel in 2018.

TTI serves an integral role in continuing the growth of Molex innovative technical solutions into the Global market. We are honored to recognize their significant contribution to our distribution channel,” said Fred Bell, vice president global distribution, Molex. “TTI has demonstrated a superior commitment to significant contributions for both companies.”

Molex Global Distributor of the Year Award recipients are evaluated and selected based on criteria in multiple categories, including year-over-year sales growth, inventory management, new product support, sales engagement, and accessibility to the management team at all levels of the organization. A leading global distributor of passive, connector, electromechanical and discrete components, TTI outpaced its peers to increase market share for Molex worldwide.

“TTI greatly appreciates our global partnership with Molex and the recognition that this award brings,” said Mike Morton, Chief Operating Officer, TTI, Inc., “We are honored to be recognized for bringing best-in-class Molex solutions to customers worldwide.”

© 2019 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 the 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.

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TTI

Berkshire’s Symmetry Electronics & TDK’s InvenSense Extend Distribution Agreement

(BRK.A), (BRK.B)

TDK Corporation has announced that InvenSense Inc., a TDK Group Company, and leading provider of MEMS sensor platform solutions, has extended its strategic distribution agreement with Berkshire Hathaway’s Symmetry Electronics, a leading global distributor of wireless, IoT and video technologies, increasing the footprint and expanding the InvenSense “Sensing Everything” platform globally.

With the extended agreement, Berkshire’s Symmetry Electronics is now chartered with sales and value-added support for InvenSense’s MEMS sensor platform solutions worldwide.

InvenSense provides industry leading sensor technologies in motion tracking, optical image stabilization, location tracking and audio microphones; solutions can be found in the consumer, industrial, automotive and IoT market sectors.

As a member of the TTI Semiconductor Group, Symmetry Electronics specializes in wireless, IoT and video solutions, providing OEMs with a focused and curated line card. TDK, having a long-standing relationship with the TTI family of companies, now enables Symmetry Electronics to support and distribute the full product portfolio of InvenSense; the latest of acquisitions made by TDK.

“The growing market of IoT is increasing the need for high-quality, low-powered MEMS sensors,” said Mark Zack, Vice President and General Manager at Symmetry Electronics. “We are extremely excited to offer InvenSense products to our customers. The innovative technology InvenSense provides will enable our customers to utilize cutting-edge MEMS sensors in their IoT applications.”

“Demand Creation through Distribution is vital to the success of the IoT marketplace,” said Dan Goehl, VP of Worldwide Sales at InvenSense. “We are very excited to have Symmetry as a partner to help maximize our success and provide our customers with such support, extending beyond traditional distributor offerings.”

Symmetry Electronics was acquired by Berkshire’s TTI, Inc. in July 2017.

© 2018 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 the 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.

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Acquisitions TTI

TTI Acquires Compona AG of Switzerland

(BRK.A), (BRK.B)

Berkshire Hathaway’s TTI, Inc. has acquired privately held Compona AG of Switzerland and the company’s German subsidiary Cosy Electronics GmbH.

Both Compona and Cosy are specialty distributors of interconnect products and provide services such as in-house assembly of specific connector ranges and full support on custom cable harnesses. The Compona Group is well known for their technical expertise, consistent quality and on-time delivery. Compona CEO, Riet Morell, will continue to lead Compona AG reporting to Glyn Dennehy, TTI President, EMEA.

The combined revenue and market share of TTI and Compona will create the largest specialty distributorship of interconnect, passive and electromechanical products in Switzerland. Cosy GmbH will expand the TTI footprint in Germany while also enhancing value added capabilities and technical expertise. In the face of increasing international competition, Compona’s business will benefit from TTI’s broad and deep stocking strategy and global warehouse network.

Dennehy said of the acquisition, ““We are proud to be bringing Compona and Cosy’s experienced and talented team, plus their high quality and specialist supplier line card, into the TTI Family of Companies and welcome the opportunity to enhance their already preferred status with their customer base.”

Urs Horat, founder and former owner of Compona AG, describes the acquisition as a perfect match. “After succession could not be found within the family and company, solutions were sought externally. We wanted to find a new owner who respects the values of the founders, appreciates the employees and supports the business in the long term. With TTI, we have found an internationally highly successful company that wants to continue to maintain the Compona brand, help to secure the future and to further expand its business.” Horat continued. “No changes are expected for employees and customers. The management team under CEO Riet Morell also remains unchanged.”

Paul Andrews, TTI Founder and Chief Executive Officer, welcomed his new associates, “It is a special occurrence when one family-founded business is able to offer another the next chapter for their employees and customers – we welcome the fine employees and customers of Compona and Cosy to the TTI and Berkshire Hathaway family.”

© 2018 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 the 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.

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TTI

Mouser Electronics Expands India Presence as APAC Revenues Grow

(BRK.A), (BRK.B)

Mouser Electronics is increasing its presence in India as it continues to have strong revenue growth in the Asia-Pacific region (APAC). The company also promoted Daphne Tien, who previously served as Director, Marketing & Business Development – APAC.

Mouser is a subsidiary of TTI Inc., which is owned by Berkshire Hathaway.

Mouser first entered the India market five years ago, establishing an office with seven employees. The company now has 34 employees and has opened new offices as it anticipates further staffing increases that will double that amount.

Growing APAC Sales

Mouser has had dramatic growth over the past five years in China, Japan, Korea, India, Australia and other APAC countries. Over that period, Mouser’s APAC revenue and customer base have tripled, and the company has received more than 30 significant recognition awards from leading publications and key manufacturers in APAC.

Recently, Mouser elevated Daphne Tien to Vice President of Marketing-APAC. Tien joined Mouser Electronics in 2011 to build an APAC marketing team from the ground up. She has acted as a prime local language spokesperson for Mouser in APAC to deliver the company’s brand value and differentiation in China, Japan, Korea, India, Australia and other APAC countries.

Tien began her career in Yageo Corporation, a global leading provider of passive components, where she was quickly promoted to Country Manager to run the sales and operations in their Hong Kong branch. In just one year, she turned losses into profits and increased revenue by 10 times the next year.

As Tien attained roles with increasing responsibilities, she developed Yageo’s business around the world, ultimately serving as the company’s Global Head of Distribution.

“I greatly appreciate the confidence Mouser and the markets have shown in me,” Tien said. “I know that with the fine team of professionals we have throughout Asia, we are going to achieve even greater successes.”

About Mouser Electronics

Mouser Electronics is an authorized semiconductor and electronic component distributor, focused on the rapid introduction of new products and technologies to electronic design engineers and buyers. Mouser.com features more than 4 million products online from more than 600 manufacturers.

The company become part of the Berkshire Hathaway family of companies when TTI was acquired in 2007.

© 2016 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 the 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.