On September 14th, WT Microelectronics held a press conference to officially announce that it had signed an agreement to acquire 100% equity in Canadian IC distributor Future Electronics. The transaction was completed in an all-cash transaction for a total value of US$3.8 billion.

It is reported that before the acquisition, WT Microelectronics was already a top-four global electronic component distributor. According to Gartner, WT Microelectronics ranked fourth in global semiconductor channel sales revenue in 2019, while Future Electronics ranked seventh.

“Future Electronics has an experienced and strong management team and a talented workforce, and is highly complementary to WT Microelectronics in terms of product offerings, customer coverage, and global presence. Future Electronics’ management team, all global employees, and all locations and distribution centers will continue to operate and add value to the organization,” said Jason Cheng, Chairman and CEO of WT Microelectronics.

Omar Baig, President, CEO, and Chairman of Future Electronics, said, “This merger represents an excellent opportunity for WT Microelectronics and Future Electronics to create a world-class industry leader and enable us to continue executing our long-term strategic plan to provide the highest level of service to our customers, as we have done for the past 55 years.”

With the addition of Future Electronics, WT Microelectronics will further strengthen its global market position and is expected to become the third-largest electronic components distributor in the world, behind Arrow Electronics and WPG.