TTI, Inc. to Acquire CHANGNAM I.N.T. Ltd.
Fort Worth, TX, December 29, 2017 – TTI Inc. announces the acquisition of CHANGNAM I.N.T. Ltd. Founded in 1992, CHANGNAM is a privately held distributor in South Korea specializing in semiconductors. The company is principally focused on the automotive, consumer electronics, industrial and wireless end markets, and in addition to a technical sales and marketing team, has hardware and software engineers that actively work with end customer product design teams. The majority of their business today is in South Korea, with satellite offices in China supporting their core customers’ activity there.
This acquisition will be the second in TTI’s construction of a global specialty semiconductor distribution group, the first being Symmetry Electronics in the U.S. earlier this year. Like Symmetry, CHANGNAM will operate as a standalone business completely separate from TTI’s core interconnect, passive and electromechanical component distribution business.
The intent is to give customers and semiconductor manufacturers who want to incorporate an authorized distributor into their supply chain, a highly focused alternative to their existing options. TTI is well known for its laser focus on interconnect, passive and electromechanical components and wide and deep stock profile, backed up by the resources and reputation of Berkshire Hathaway, TTI’s parent company. This approach is being applied to the semiconductor distribution arm that TTI is assembling to expand and strengthen the corporation’s value proposition for both customers and suppliers.
Paul Andrews, TTI founder and chief executive officer said, “I am pleased to welcome the good people of CHANGNAM to the TTI Family of specialty distributors. Today, TTI has very little presence in the South Korean market, a market that has grown to be quite significant. CHANGNAM changes that in a meaningful way, and while they contribute to the build-out of our semiconductor business, our association with them will help all of the TTI Family of Companies progress in this important marketplace.” Andrews added, “The business Chairman K.M. Park and Vice Chairman B.B. Kim have built is impressive, and its culture and strategy align well with that of TTI.”
CHANGNAM joins Mouser Electronics, Sager Electronics and Symmetry Electronics in the TTI Family of Companies. It has a number of supplier partners in common with TTI and its subsidiaries including Atmel/Microchip, Cree, Diodes Inc., Epson, GigaDevice, IDT, Infineon, Laird, Littelfuse, Pulse Electronics, Qorvo, Telit, Trinamic, and Vishay. This move increases TTI’s opportunity to add value to these partners, and their distribution-served customer base, and creates an opportunity to bring additional value for a number of manufacturers that are unique to CHANGNAM.
TTI, Inc., a Berkshire Hathaway company, is an authorized, specialty distributor of interconnect, passive and electromechanical (IP&E) components and the distributor of choice for industrial and consumer electronics manufacturers worldwide. Broader and deeper inventory, leading-edge products and custom supply chain solutions have established TTI as the leading specialist in electronic component distribution. Globally, the company maintains two million cubic feet of dedicated warehouse space containing over 850,000 component part numbers. Along with its subsidiaries, Mouser Electronics, Sager Electronics, and Symmetry Electronics, TTI employs over 5,400 employees and is represented in over 100 locations throughout North America, Europe and Asia. For more information about TTI, visit www.ttiinc.com
Established as Comtel Korea Ltd. in 1983, CHANGNAM separated from the parent in company in 1992 to become a specialized distributor of semiconductor technology. Today the company strives to support their customers in being in their best market position possible by providing the latest technical information and problem solving R&D support through highly trained software and hardware design engineers, custom design services in firmware and hardware and application research.