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  • Sourceability has big plans for 2024

    SIA

    The global distributor of electronic components is embarking on an expansion plan which includes new office locations, leadership appointments and a target of doubling its customer base in 2024.

    The company plans to expand its offerings across verticals, geographic markets and strengthen expertise with its new executive appointment. Since being acquired by Crowd Out Capital last year, the company has set its sights on doubling its customer base in 2024.

    External market conditions spanning from rising geopolitical tensions to advances in technological innovation and industrial automation have set the stage for increasing demand for effective electronic components sourcing. Therefore, Sourceability will focus its efforts on expanding into high-growth industry verticals including military and aerospace, medical, automotive and industrial automation in 2024. As previously reported, these sectors are expected to see significant growth with particularly high demand for memory and AI components.

    In order to accommodate the increased demand, Sourceability relocated its US headquarters to Austin, Texas. The new headquarters, which is expected to open in June, will boast capacity to house a global warehouse and house multiple departments in a single location. Alongside this action, Sourceability is expanding globally in Asia; in late 2023, the company launched a facility in South Korea, a press release reads.

    With the recent addition of Alon Balash as Senior Vice President of Revenue, Sourceability has expanded its pool of expertise. With more than 30 years of experience in the electronics sector, Balash is a seasoned professional. before joining Sourceability, he served as Future Electronics’ Vice President of Sales EMEA, where he had a major influence on the company’s performance in the area.

    “Sourceability’s unique value proposition as a global distributor offering best-in-class digital tools provides a significant opportunity to aggressively outgrow the market in any environment and deliver unparalleled value to our customers and supplier partners,” says Balash in the press release. “I look forward to using my expertise to help bring that value to new customers across each of our strategically identified focus areas.”

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