OMAHA, Neb. — Billionaire Warren Buffett’s company announced Friday that it will buy a Texas-based company, TTI Inc., that distributes electronic components that other companies use to make a range of products. Financial terms weren’t disclosed.

Buffett’s Berkshire Hathaway Inc. will also acquire TTI subsidiary Mouser Electronics. Berkshire said it expects to complete the deal in the first quarter of 2007 if government regulators approve.

The resistors, capacitors and other parts TTI distributes represent about 85 percent of the parts on any circuit board inside a computer or other electronic device, said Craig Conrad, TTI’s chief marketing officer.

TTI expects to complete about $1.2 billion in sales this year, Conrad said. Last year, the company sold nearly $1 billion worth of components.

As is typical with Berkshire acquisitions, TTI will operate independently and the company’s current management, including Chairman and Chief Executive Paul Andrews, will remain in place.

“Paul Andrews is a remarkable man who has built an outstanding business,” Buffett said in a release.

Berkshire officials did not immediately return calls for comment.

Andrew said joining Berkshire Hathaway will not affect his companies’ operations and will allow TTI to continue pursuing its growth plans in international markets.

TTI employs more than 1,700 people at more than 50 locations in North America, Europe and Asia.

Berkshire owns more than 60 companies including insurance, clothing, furniture, jewelry and candy companies, restaurants, natural gas and corporate jet firms and has major investments in such companies as Coca-Cola Co., Anheuser-Busch Cos. and Wells Fargo & Co.