September 14, 2023 – Wenye Microelectronics Co., Ltd. today announced that it has signed a definitive agreement to acquire 100% of Future Electronics Inc. (“Future Electronics”) in an all-cash transaction with an enterprise value of US$3.8 billion. 

"This is a change for Wenye Technology and Future Electronics, and is also of great significance to the electronic component ecosystem," said Zheng Wenzong, chairman and CEO of Wenye Technology. "Future Electronics has an experienced and strong management team and talented workforce that are highly complementary to Wenye Technology in terms of product offerings, customer coverage and global presence. Future's management team, all employees globally and all locations and distribution The center will continue to operate and add value to the organization. We are pleased to invite Mr. Omar Baig to join the Wenye Microelectronics Board of Directors upon completion of the transaction and look forward to working with him and his talented colleagues around the world to build a best-in-class electronic components distributor.”

"We are pleased to join Wenye Microelectronics and believe this transaction will benefit all our stakeholders. Our two companies share a common culture driven by a rich entrepreneurial spirit that will empower us globally Talented employees," said Omar Baig, President, CEO and Chairman of Future Electronics. "This merger is an excellent opportunity for Wenye Microelectronics and Future Electronics to jointly create a world-class industry leader and allows us to continue to execute on our long-term strategic plan to provide our customers with the highest level of service, which is what we have been doing for the past 55 years.”