WT Microelectronics buys Future Electronics for $3.8bn
Taiwan's WT Microelectronics has completed its acquisition of Canada's Future Electronics to create "a global electronic components distribution powerhouse".
It's a bold claim, but the two firms can each boast considerable market strength. WT is a global top three electronic components distributor with reach across Asia Pacific, the Americas and EMEA. Meanwhile Future is a 56 year old firm with 5,100 employees and a presence in 48 countries and regions.
As a joint entity, the companies say they will partner with more than 400 suppliers across major technology segments to serve a highly diversified customer base of over 25,000 customers worldwide.
“We are excited to welcome the Future Electronics team, who share our passion for delivering world-class services to help our partners succeed,” said Eric Cheng, Chairman and CEO of WT Microelectronics. “Future Electronics has an extensive supplier and customer base as well as a highly competent team of management and employees. We look forward to working with our new immensely talented colleagues around the world to embark on WT Microelectronics’ new chapter.”
