Merix Corporation was started in 1994 as a spin-off from
Tektronix, Inc. in Oregon's
Silicon Forest, employing 700 people. Tektronix continued to own 27% of the new company. The City of Portland's Office of Sustainable Development awarded Merix a BEST Award in 1997 for water conservation. Merix lost $9.6 million on revenues of $87 million in 2002, and followed that with losses of $30 million in 2003 on revenues of $95 million. In December 2004, the company bought Data Circuit Systems and named the unit Merix
San Jose. In February 2007, the company was warned by
NASDAQ for failing to have a full three member independent
audit committee as required by NASDAQ listing rules. For the 2006 fiscal year they had revenues of $309 million and a profit of $1.4 million. The company laid off 180 people company-wide as part of a restructuring plan at that time. and the company then lost $8.4 million on nearly $60 million in revenues in the quarter that ended in May 2009. Also in 2009, the company expanded its military and
aerospace customer base, adding contracts to companies such as
Rockwell Collins. In October 2009, Merix announced they would merge with Viasystems with the combined entity headquartered in
St. Louis, Missouri. Merix reported a quarterly profit for the second quarter of their 2010 fiscal year, the first such profit since 2007. The merger with Viasystems was completed in February 2010. Viasystems was acquired by California-based TTM Technologies in May 2015 for $368 million. ==Operations==