 | |
| Company type | Public |
|---|---|
| Industry | Electronics |
| Founded | 1998; 28 years ago (1998) inRedmond, Washington, U.S. |
| Founder | Kent Alder |
| Headquarters | Santa Ana, California, U.S. |
Key people | Edwin Roks (President andCEO) James P. Walsh (Executive Vice President andCOO)[1] |
| Products | Printed circuit boards RF components |
| Revenue |  US$2.23 billion (2023)[2] |
| US$42.3 million (2023)[2] | |
| US$–18.7 million (2023)[2] | |
Number of employees | 15,800 (2023)[2] |
| Website | ttm |
TTM Technologies, Inc. is an Americanprinted circuit board (PCB) manufacturer headquartered inSanta Ana, California. Founded in 1998, the company is one of the top five PCB manufacturers in the world and the largest in North America, and the largest supplier of PCBs to theU.S. military. TTM serves customers in industries including aerospace and defense, medical, industrial, automotive, computing, and networking.
TTM Technologies, Inc. was founded in 1998 by Kent Alder inRedmond, Washington,[3] via an acquisition of Pacific Circuits, Inc., and moved toSanta Ana, California, in 1999, after acquiring Power Circuits, Inc.[4] Alder was previously the president of Lundahl Astro Circuits, Inc. inLogan, Utah, from 1987, and president andCEO of its successor ElectroStar, Inc. from 1994. After ElectroStar was acquired by theTyco Printed Circuit Group in 1996, Alder served as that company's vice president before departing to found TTM.[5][6][7]
TTM's original business was manufacturingprinted circuit boards (PCBs) used inrouters,switches,servers andmemory modules, and its customers includedGeneral Electric,Motorola, andSolectron.[3] In 2000, the company made itsinitial public offering (IPO) on theNasdaq stock exchange.[3] In 2002, TTM acquiredHoneywell Advanced Circuits, Inc. forUS$2 million, gaining a 281,000-square-foot (26,100 m2) factory inChippewa Falls, Wisconsin (the largest PCB manufacturing facility in the country) and adding customers includingCisco,Sun Microsystems, andIBM.[4] In 2006, TTM acquired the Tyco Printed Circuit Group for $226 million, expanding its business to specialized PCBs geared to the aerospace and defense sectors.[4]
In 2010, TTM acquired theHong Kong–headquartered[8] Meadville Printed Circuit Group for $521 million, which expanded the company's footprint in Asia and extended its business to PCBs used in smartphones and tablets. In 2013, Tom Edman succeeded Alder as president of TTM, and in 2014 also succeeded him as CEO on Alder's retirement.[5] In 2015, the company acquired Viasystems Group, Inc. for $950 million, marking its entry into the automotive industry and further expanding its presence in aerospace and defense.[4][9] In 2018, TTM acquiredAnaren, Inc. for $775 million, expanding to high-frequency radio andmicrowave microelectronics used in the space, defense, and telecommunications industries.[10]
In 2019, TTM acquiredintellectual property assets from i3 Electronics, Inc., citing a particular interest in i3's technology enabling very fine printed lines and spacing down to 25microns.[11] In 2020, TTM sold its mobile device business unit, comprising four facilities in China, to AKM Meadville Electronics (Xiamen) Co., Ltd., for $550 million.[12] Also in 2020, TTM closed down its commercial assembly business unit, comprising three facilities in China.[13] In 2022, TTM acquired Telephonics Corporation fromGriffon Corporation for $330 million, further expanding its operations in aerospace and defense.[14]
TTM Technologies manufactures PCBs andradio-frequency and specialty (RF&S) components for industries including aerospace and defense (45% of revenue in 2023); medical and industrial (17%); automotive (16%);data center computing (14%); and networking (8%).[2] The company is one of the world's top five PCB manufacturers by revenue ($2.23 billion in 2023), and the largest PCB manufacturer in North America.[4] As of 2017, TTM was also the largest supplier of PCBs to theU.S. military, primarily as asubcontractor.[4] In 2020, TTM had about 1,600 customers, and its five largestoriginal equipment manufacturer customers (not in order) wereHuawei,Lockheed Martin,Northrop Grumman,Raytheon, andBosch.[15] In 2015, the company's five largest customers wereApple,Cisco, Huawei,Juniper Networks, and Bosch,[16] and in 2010 they were Apple, Cisco,Ericsson, Huawei, andIBM.[17]
As of 2023, the company employs about 15,800 people and operates 24 manufacturing facilities across North America and Asia. Its PCB facilities in the United States are located inChippewa Falls, Wisconsin;Elizabeth City, North Carolina;Farmingdale, New York;Forest Grove, Oregon;Huntington, New York;Littleton, Colorado;Logan, Utah;North Jackson, Ohio;Salem, New Hampshire;San Diego, California;San Jose, California;Santa Ana, California;Stafford, Connecticut;Stafford Springs, Connecticut;Sterling, Virginia; andSyracuse, New York, and its foreign facilities are inToronto, Canada;Penang, Malaysia; andDongguan,Guangzhou,Huiyang, andZhongshan, China. It operates two RF&S facilities in Syracuse, New York, andSuzhou, China.[2]