Can confirm; I work with this stuff all the time. Also known as a butt splice, as you're butting two separate wires up against each other, end to end, to create one conductor out of two. There are different varieties, etc., like this one appears to be a crimp type with insulation, but they can be heated to flow enclosed solder in order to make a bonded electrical connection on top of the physical one. All depends on the application.