TTI Inc. announced Wednesday, Jan. 3, the acquisition of CHANGNAM I.N.T. Ltd.
CHANGNAM, est. 1992, is a privately held distributor in South Korea specializing in semiconductors and principally focused on the automotive, consumer electronics, industrial and wireless end markets. No price was announced for the transaction.
In addition its technical sales and marketing teams, the company has hardware and software engineers that actively work with end customer product design teams. The majority of their business is in South Korea, though they operate satellite offices in China.
This is TTI’s second acquisition of a global specialty semiconductor distribution group, the first having been Symmetry Electronics in the U.S. late in 2017. Both new acquisitions will operate as standalone businesses separate from TTI’s core business.
“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,” Paul Andrews, TTI founder and CEO, said in the release. “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.”
The TTI family of companies now includes:
— Mouser Electronics
— Sager Electronics
— and Symmetry Electronics