TTI has acquired CHANGNAM, a South Korean semiconductor distributor. Founded in 1992, privately-held CHANGNAM 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 US 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 authorised distributor into their supply chain, a highly focused alternative to their existing options.
TTI has focussed on interconnect, passive and electromechanical components backed by a wide and deep stock profile, finanjcially supported by 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, 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.