"Can't buy me love, everybody tells me so
Can't buy me love, no no no, no!"
-- From "Can't Buy Me Love" by Lennon/McCartney, 1964

Paul McCartney later figured out that money can buy love. TTM Technologies (Nasdaq: TTMI) is going with that theory as well: Growth by acquisition is the name of the game, baby!

Four years ago, circuit board manufacturer TTM doubled its payrolls when it bought the circuit board operations of the old Tyco conglomerate. (Man, that takes me back.) Now little TTM has done it again, doubling its sales in one fell swoop by combining with Hong Kong-based rival Meadville.

Like TTM, Meadville has a focus on high-end technologies. But the companies have very little overlap in their customer lists, because TTM's exposure is mostly stateside, while Meadville is a Chinese operation through and through. TTM's largest customers include American defense giants like Raytheon (NYSE: RTN) and networking equipment manufacturers such as Cisco Systems (Nasdaq: CSCO), while Meadville's top clients lean toward outsourcing-happy gadget designers such as Apple (Nasdaq: AAPL) and Nokia (NYSE: NOK).

That's right: TTM may well supply circuit boards to that shiny new iPad on your coffee table. Cross-selling quick-delivery, American-made boards to Meadville clients, and cheaper but less time-sensitive Chinese designs to TTM's existing customer base, should make this combination greater than the sum of its parts.

It's a cash-and-stock deal that leaves 45% of TTM's ownership in the hands of former Meadville owners. Together, Meadville and TTM make a global operation with $1.35 billion in annual sales. The combination will add to TTM's bottom line from day one.

This merger has created the third-largest circuit-board manufacturer in the world, after runaway leaders Flextronics (Nasdaq: FLEX) and Sanmina-SCI (Nasdaq: SANM). TTM aims for the high end of this sector, with technologically advanced boards and quick delivery helping to push up prices. As a result, TTM's gross and operating margins are more than double what Flextronics or Sanmina can muster.

It's no wonder why our CAPS members love this five-star stock. I'm heading over there to nod in agreement and rate TTMI "outperform" right now, and you're welcome to follow my lead. Money can buy you love, after all.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. It's National Poetry Month, and rock lyrics are poetry too! Nokia is a Motley Fool Inside Value recommendation. Apple and TTM Technologies are Motley Fool Stock Advisor picks. Try any of our Foolish newsletters today, free for 30 days. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.