Future Electronics

Future Electronics Inc. is a distributor of electronic and electro-mechanical components headquartered in Pointe-Claire, Quebec.

Future Electronics Inc.
TypePrivate
IndustryElectronics
Founded1968 (1968)
FounderRobert G. Miller
FateAcquired by WT Microelectronics
HeadquartersPointe-Claire, Quebec, Canada
Number of locations
170 offices in 44 countries
Area served
Worldwide
RevenueUS$5 billion (2014)[1]
Number of employees
5,200 (2023)[2]
Websitefutureelectronics.com

Future Electronics is one of Quebec's largest privately owned companies[3] and is currently the third largest electronics distributor in the world.[4] It operates in 170 locations in 44 countries in the Americas, Europe, Asia, Africa and Oceania.[5]

The company follows a business model that emphasizes zero debt and the willingness to buy and hold inventories, allowing the company to maintain positive relationship with component suppliers.[1] In 2014, its revenues were $5 billion.[1]

History

Future Electronics was founded in November 1968 when Robert Miller left his job in electronics distribution to form a new company. Alongside his business partner, Eli Manis, Miller set up an office in Montreal and began a distribution operation. In 1972, the pair opened an office in Boston, Massachusetts.[6]

Miller became the sole owner of the company after he bought Manis out for $500,000 in 1976.[7] By 1988, an office in Huntsville, Alabama had opened its doors, and Future Electronics was a major distributor in the United States.

In the decades that followed, Future became a globally recognised distributor of components. It remains privately owned to this day.[8]

In February 2023, founder Robert Miller stepped down as chairman and CEO of the company amid allegations that he solicited multiple underage girls for sex, while denying the accusations.[9][2]

On September 14, 2023, it was announced that WT Microelectronics of Taiwan had entered into an agreement to acquire Future Electronics for US$3.8 billion. The transaction is expected to close in the first half of 2024.[9][2]

Leadership history

Chief Executive Officers of Future include:

  • Robert G. Miller (1968–2023)
  • Omar Baig (2023–Present)

See also

References
  1. Dolan, Kerry A. (31 March 2014). "Press-Shy Canadian Electronics Billionaire Robert Miller Breaks His Silence". Forbes. Retrieved 15 July 2015.
  2. Dion, Matthieu (September 14, 2023). "Taiwan's WT Buys Future Electronics for $3.8 Billion Amid Probe of Founder". Bloomberg News.
  3. "DeSoto lands electronics warehouse - Memphis Business Journal". Bizjournals.com. 2002-10-27. Retrieved 2013-09-04.
  4. "2021 Top 50 Electronics Distributors List". sourcetoday.com. Retrieved 2013-09-04.
  5. Caporicci, Claudio. "Future Electronics President Robert Miller Congratulates Austria Office on Their 20th Anniversary". PR.com. Retrieved 23 January 2022.
  6. "Future Electronics Comany History". Zippia. Retrieved 2023-07-26.
  7. "Robert G. Miller". Forbes. Retrieved 2022-12-14.
  8. "Future Electronics and Robert Miller Celebrate 43rd Anniversary of Company's Incorporation in the US". The Free Library. Retrieved 2023-07-26.
  9. "Quebec billionaire accused of paying minors for sex to sell Future Electronics for $5B". CBC.ca. The Canadian Press. September 14, 2023.


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