{"id":4675,"date":"2023-09-14T02:33:31","date_gmt":"2023-09-14T06:33:31","guid":{"rendered":"https:\/\/www.futureelectronics.com\/blog\/?p=4675"},"modified":"2024-04-02T11:24:32","modified_gmt":"2024-04-02T15:24:32","slug":"wt-microelectronics-to-acquire-future-electronics","status":"publish","type":"post","link":"https:\/\/www.futureelectronics.com\/blog\/news\/wt-microelectronics-to-acquire-future-electronics\/","title":{"rendered":"WT Microelectronics to Acquire Future Electronics for US$3.8 Billion"},"content":{"rendered":"\n

Transformative transaction creates a world-class global electronic components distributor<\/em><\/p>\n\n\n\n

French version<\/a><\/strong> | Version fran\u00e7aise<\/a><\/strong><\/p>\n\n\n\n

TAIPEI, Taiwan and MONTREAL, Canada, September 14, 2023 \u2013 WT Microelectronics Co., Ltd. (TAIEX: 3036) (\u201cWT Microelectronics\u201d) today announced that it has entered into a definitive agreement to acquire 100% of the shares of Future Electronics Inc. (\u201cFuture Electronics\u201d) for an enterprise value of US$3.8 billion in an all-cash transaction. The strategic transaction is anticipated to deliver long-term, sustainable value to all relevant stakeholders including customers, suppliers, employees, and shareholders through the combination of two highly complementary organizations.<\/p>\n\n\n\n

Future Electronics, a Canadian-based leading global distributor of electronic components, generated revenues of US$2.9 billion, operating income of US$228 million, and net income of US$184 million for the six months ended on June 30, 2023. The privately-held company, with approximately 5,200 employees in 47 countries, provides customers with application engineering expertise and supply chain services covering a portfolio of electronics from industry leading suppliers.<\/p>\n\n\n\n

\u201cThis is transformational for WT Microelectronics and Future Electronics and important for the electronic component ecosystem,\u201d said Eric Cheng, Chairman and CEO of WT Microelectronics. \u201cFuture Electronics has an experienced and deep management team and a very talented employee base, and is highly complementary to WT Microelectronics in terms of product offerings, customer coverage, and global footprint. Future\u2019s management team, all of their employees worldwide, and all locations and distribution centers will continue to operate and add value to the organization. We are excited to invite Mr. Omar Baig to join WT Microelectronics\u2019 Board of Directors post-closing and look forward to working with him and his immensely talented colleagues around the world to build together a best-in-class electronic components distributor.\u201d<\/p>\n\n\n\n

\u201cWe are excited to join WT Microelectronics and believe that this transaction will benefit all our stakeholders. Our two companies share a common culture, driven by a rich entrepreneurial spirit that will empower our talented employees globally\u201d, said Omar Baig, President, CEO and Chairman of Future Electronics. \u201cThis combination is a great opportunity for WT Microelectronics and Future Electronics to jointly form a world-class industry leader, and allows us to continue our long-term strategic plan to offer the highest level of services to our customers, which we have been doing for the past 55 years.\u201d<\/p>\n\n\n\n

Transaction Benefits<\/strong><\/p>\n\n\n\n