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GeezerVison is showing en.wikipedia.org — Future Electronics - Wikipedia
Future Electronics Inc. is a distributor of electronic and electro-mechanical components headquartered in Pointe-Claire, Quebec, Canada. Until its acquisition in 2024, Future Electronics was one of Quebec's largest privately owned companies[4] and is one of the world's largest electronics distributors.[5][6] It operates in 170 locations in 44 countries around the world.[7] 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.[2] In 2014, its revenues were $5 billion.[2] HistoryFuture 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.[8] Miller became the sole owner of the company after he bought Manis out for $500,000 in 1976.[9] By 1988, an office in Huntsville, Alabama had opened its doors, and Future Electronics was a major distributor in the United States. In 1999, the company was raided by the U.S. Federal Bureau of Investigation and the Royal Canadian Mounted Police in a fraud probe into the company.[10][11] U.S. Department of Justice with the Central Authority of Canada suspected Future Electronics of defrauding TI, Motorola, Analog Devices and other U.S.-based companies, by falsely reporting to Texas Instruments and others the amount of their products that FEC sells.[12] In 2002, the U.S. Attorney's Office announced they would not pursue charges.[10] In February 2023, its founder ceased to be chairman and CEO amid allegations that he solicited multiple underage girls for sex.[13][3] He was arrested in May 2024 and charged with 24 sexual offences, including sexual exploitation of minors.[14] Miller pleaded not guilty to the charges.[15] He was later held to be medically unfit to stand trial.[15] In late 2023, Taiwanese company WT Microelectronics agreed to buy Future from Miller.[13][3] The US$3.8 billion deal completed on April 2, 2024.[16] Leadership historyChief Executive Officers of Future include:
See also
References
External links Wikimedia Commons has media related to Future Electronics. | ||||||||||||||||||||||||||||||
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