TTI Inc., a global electronic component distributor, recently announced that it has signed a letter of intent to acquire RFMW Ltd., a RF and microwave electronic component distributor based in Silicon Valley, California. The transaction is expected to be completed on October 1, 2018.
Upon completion of the acquisition, RFMW will continue to operate under the RFMW brand name. Joel Levine will continue to serve as President of RFMW and will report to Michael Knight, President of TTI Semiconductor Group (TSG).
Michael Knight, Senior Vice President of TSG President, said: "RFMW will be an important complement to the TTI family of companies and our semiconductor distribution group. TTI's corporate culture, focus and superior customer service and technical expertise are ideal for our professional distribution model. Our founder and CEO, Paul Andrews, looks forward to welcoming RFMW experts to TTI."
Joel Levine, president and founder of RFMW, said: "There are few opportunities like this. Joining the TTI series will enable RFMW to continue our development path and benefit our loyal employees, who are still committed to the RFMW specialization strategy. As we increase resources, expand our business and increase the capabilities of our suppliers and customers, TTI's investment in the future will support the next generation."