COSTA MESA, Calif. and LAS VEGAS, March 04, 2019 (GLOBE NEWSWIRE) -- TTM Technologies, Inc. (NASDAQ:TTMI), a leading global printed circuit board (“PCB”) and radio frequency (“RF”) components manufacturer, and Linkage Technologies, Inc. (“Linkage”), a Nevada company, today announced the sale of TTM’s “Viasource” PCB broker service to Linkage for an undisclosed amount. TTM does not expect any material impact to its financials as a result of this transaction.
Viasource became part of TTM with the Viasystems acquisition in 2015. Outsourcing the PCB manufacturing process is not a core focus for TTM. However, TTM determined that it needed to find a solution that would ensure that our 100+ Viasource customers’ business would not be interrupted. Doug Soder, Executive Vice President and President of TTM’s Commercial Sector, said, “We firmly believe that this divestiture, which is being conducted with a known and trusted management team, is the best solution for TTM and its customers.”
Linkage will assume the name “Viasource” from TTM and will conduct their business using the same name. In addition, Linkage will assume the obligations of TTM for any transaction that occurs after February 28, 2019. The majority of TTM’s Viasource division employees will transfer to the New Viasource which will be helpful in facilitating a smooth transition of the business from TTM to Linkage.
Linkage is led by CEO Michael Schumacher. Mr. Schumacher managed Viasource, which was part of Viasystems, from 2005 until 2015. After he left Viasource in 2015, he joined Linkage, a Printed Circuit Board broker that is similar to Viasource. Mehul J. Dave, Chairman of Linkage, said, “We are excited and honored to acquire the Viasource business from TTM as it adds to the core focus of our business. This acquisition gives us a complete North American sales and technical support solution.”
TTM Technologies, Inc. is a leading global printed circuit board manufacturer, focusing on quick-turn and volume production of technologically advanced PCBs, backplane assemblies and electro-mechanical solutions as well as a global designer and manufacturer of RF and microwave components and assemblies. TTM stands for time-to-market, representing how TTM's time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. Additional information can be found at www.ttm.com.
Linkage Technologies, Inc. is a global leader in PCB sourcing with a direct presence in North America, India, and China. Linkage links its customers to trusted factories in Asia by providing high value, reliable quality, and responsive local sales and engineering support. With over 15 years of experience in global sourcing and a now enhanced service offering, Linkage is now positioned for significant growth as a result of this acquisition. Additional information can be found at www.linkage-tech.com
Source: TTM Technologies