Berkshire's TTI buys Sager Electronics

REUTERS - Berkshire Hathaway-owned electronic component distributor TTI Inc said on Monday it bought employee-owned Sager Electronics, less than a month after Berkshire Chief Executive Warren Buffett said he wanted TTI to make more deals.
Terms of the deal for Sager, which started as a retail radio store 125 years ago in Boston, were not disclosed.
In his annual letter to Berkshire shareholders last month, Buffett said TTI posted record sales last year and had more than doubled profits since Berkshire bought it five years ago.
He also said that TTI had negotiated a large acquisition early this year.
"We hope more follow," he added.
TTI employs more than 3,500 people worldwide. It generated sales of more than $2 billion last year, mostly with components that Buffett has said sell for less than $1 each.
(Reporting By Ben Berkowitz; Editing by Richard Chang)