DALLAS--(BUSINESS WIRE)--Paragon Innovations, a privately held Engineering Design Services firm based in Richardson, Texas was acquired by 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.
About Paragon Innovations
Paragon Innovations was founded in 1990 and is a provider of engineering and product development services. Paragon creates new technologies and turns products into revenue for clients. Paragon serves Fortune 500 companies and startups, and provides turn-key product development services from inception to market launch on time and on budget. Learn more about Paragon at www.ParagonInnovations.com.
About TTI, Inc.
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 TTI Family of Companies maintains over two million cubic feet of dedicated warehouse space containing over one million component part numbers. Along with its subsidiaries, Mouser Electronics, Sager Electronics, and the Exponential Technology Group, TTI employs over 7,000 employees and is represented in over 130 locations throughout North America, Europe and Asia. For more information about TTI, visit www.ttiinc.com.
About Berkshire Hathaway
Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B. For more information about Berkshire Hathaway, visit www.BerkshireHathaway.com.
About the Exponential Technology Group
The Exponential Technology Group (XTG) was created to provide TTI customers a specialty semiconductor supply chain option formed in the ethical and hardworking spirit they are accustomed to from TTI and its subsidiaries. TSG joins TTI, Inc., Mouser Electronics and Sager Electronics in the TTI Family of Companies, giving purchasing communities and manufacturers a well-funded and well-known global distributor backed by the strength of Berkshire Hathaway. For more information about TTI Semiconductor Group, visit www.TTISemiconductor.com.