WT buys Future for $3.8bn

“This is transformational for WT Microelectronics and Future Electronics, and important for the electronic component ecosystem,” said WT CEO Eric Cheng.

In H1, Future had revenue of $2.9 billion while WT had revenue of $7.8 billion.

“Retaining our business model, which is unique, and securing the job and livelihood for the 5,200 employees and families that we support worldwide were of paramount importance,” said Future vp Jamie Singerman, adding “our business models are very different – that’s why we believe that the companies will be complementary.”

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Future’s founder, CEO and controlling shareholder Robert  Miller resigned in February  after an investigation  by Radio-Canada and Canadian Broadcasting Corp accused him of soliciting minors for sex.

Miller founded Future in 1968

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