TTI Snaps Up Israeli Specialist

TTI's acquisition strategy continues apace. Consolidating its position in the EMEA region, the distributor has acquired Net-Aye Technologies, a specialist interconnect and LED distributor located in Kfar-Saba, Israel.

Net-Aye is a subsidiary of Bar-Tec which was founded in 1998. Paul Andrews, TTI president and chief executive officer, said, “Israelhas been an important market for TTI for many years due to its significant growth in high-tech and the electronics industry. Net-Aye is a perfect fit given their strong relationships with many of these customers.”

 

Avi Inbar, owner and general manager of Bar-Tec and Schlomi Schultz, chief executive officer of Tel-Ad Electronics and stockholder of Net-Aye, stated, “We have been impressed with the accomplishments of TTI in both North America and Europe and their specialised business model. They have an impeccable reputation and are admired by customers and suppliers alike. TTI will be a great partner for Bar-Tec and our Net-Aye subsidiary. I am confident that with TTI’s resources and Net-Aye’s design-in capabilities and experience the future will prove to be very successful.”

 

The management team will remain in place with Amir Schor as general manager and will report to Paul Andrews during the 2010 transition.

 

This marks the fourth acquisition that TTI has made after its own acquisition by Berkshire Hathaway in March 2007. Most recently it acquired UK-based Flightspares Electronics, a specialist connector distributor