TTI to be sold to famous investment group.FORT WORTH, TX -- Berkshire Hathaway Inc., the investment fund of uber-billionaire Warren Buffett Warren Buffett Known as "the Oracle of Omaha," Buffett is Chairman of Berkshire Hathaway and arguably the greatest investor of all time. His wealth fluctuates with the performance of the market, but for the last few years he has been reported to be worth over $30 billion, making , will buy component distributor TTI TTI Texas Transportation Institute TTI Thoracic Trauma Index TTI Transmission Time Interval TTI Travel Time Index TTI Travel Technology Initiative TTI Technology Transfer Initiative TTI Traffic and Traveller Information TTI Technology Transfer Institute Inc. (ttinc.com). Terms were not disclosed and the deal is expected to close during this quarter. The deal includes TTI subsidiary Mouser Electronics (mouser mous·er n. An animal, especially a cat, that catches mice. mouser Noun a cat or other animal that is used to catch mice Noun 1. .com). TTI is the world's fifth largest electronics components distributor, with reported sales of $835 million in 2005. TTI is privately held, and will operate as a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Berkshire Hathaway, the companies said. TTI's management will remain in place, including founder and chairman Paul Andrews. In a press release Buffett, Berkshire Hathaway's chairman and chief executive, said, "Andrews is a remarkable man who has built an outstanding business. We are pleased to have the opportunity to add TTI to the Berkshire Hathaway Group." TTI employs 1,700 workers across more than 50 locations. |
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