TTI is extending its reach into the semiconductor market by acquiring privately-held Symmetry Electronics, a semiconductor component distributor headquartered in Hawthorne, California. Symmetry Electronics will operate as a wholly-owned subsidiary of TTI, with current management to remain in place. The company has offices in Canada, Mexico, Brazil and China.
Specialising in wireless and video applications Symmetry’s line card boasts key suppliers including AMD, Silicon Labs, Micronas, Taiyo Yuden, Lantronix and Nordic Semiconductor.
Both company’s day-to-day activities and operations will not be affected by this acquisition – Symmetry will operate separately, and independently, of the parent company.
Paul Andrews, Chief Executive Officer, stated “The acquisition of Symmetry Electronics is a natural extension of our Specialist distribution model. TTI has long heard customers express their desire to have a TTI-like semiconductor distributor as part of their supply chain, and from semiconductor manufacturers a wish for 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.