Paragon Innovations, a privately held engineering design services company based in Richardson, Texas has been acquired by TTI’s Exponential Technology Group (XTG).
The deal gives Paragon, which was founded in 1990, the opportunity to partner with specialty electronic components distributors and design services. It will also strengthen Paragon’s ability to provide services under one corporation. Founded in 1971, TTI, Inc., a Berkshire Hathaway company, is a specialty distributor of electronic components.
Paragon Innovations will continue to operate under the same brand name while Michael Wilkinson, the company founder, will remain in charge of the business as vice president and general manager. Wilkinson will report to XTG President, Michael Knight.
“The Paragon team significantly expands the strength and capabilities of the design services offering within the Exponential Technology Group at TTI,” Knight said. “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.”
Knight said Paragon complemented Connected Development, the Raleigh, North Carolina IoT design services firm that was acquired by TTI in January of last year. Combined, the two companies have more than 50 electronic hardware, software and mechanical engineers who are experts in a range of wireless and RF protocols, sensor connectivity, cellular certification, component selection and design for manufacturing, according to 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 Paragon’s Michael Wilkinson. “We look forward to this new venture and becoming part of the team.”
The post Paragon Innovations is Acquired by TTI’s Exponential Technology Group appeared first on Modern Distribution Management.