Future Electronics

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Future Electronics
Private
Industry Electronics
Founded 1968
Headquarters Pointe-Claire, Quebec
Revenue $5 billion USD (2014)[1]
Number of employees
5,500[1]
Website http://www.futureelectronics.com

Future Electronics Inc. is a distributor of electronic and electro-mechanical components headquartered in Pointe-Claire, Quebec. Founded in 1968 by reclusive billionaire Robert Miller, the company is one of Quebec's largest privately owned companies [2] and is currently the fourth largest electronics distributor in the world.[3] It operates in 169 locations in 42 countries in the Americas, Europe and Asia.

Future Electronics also operates an Advanced Engineering Group of field applications engineers in several countries[which?] to assist circuit design engineers with product selection and engineering support.

The company had in the past separated its operations into two complementary businesses, Future Global for large customers and Future Active/Industrial (FAI) for small to mid-sized customers. In 2008, Future Global and FAI were combined into a single operation.

In 2014 its revenues were $5 billion.[1]

History[edit]

Founder Robert Miller attended college in the United States in the 1960s. After graduation, he worked as a D.J. at a broadcasting company, but soon moved to a job for an electronics supplier. In 1968, he left his job to form Future Electronics with a partner, Eli Manis.[1]

When he started the business, Miller once worked every day for more than two years without taking a day off, often putting in 16 hour workdays.[1]

1999 police raid[edit]

In 1999, Future's Montreal offices were raided by the Royal Canadian Mounted Police following a three-year investigation by the US Federal Bureau of Investigation into allegations that the company had overcharged American customers, including Motorola and Texas Instruments, by as much as $100 million. Future denied all charges and Miller called the raid an "unfounded assault on our integrity."[4] A year after the raid, a Quebec appeals court ruled that the RCMP warrant was invalid because it had been issued based on allegations made by former employees who had failed to take an oath of truthfulness.[5] Shortly thereafter, all documentation seized in the 1999 raid was returned to Future and disallowed in any legal proceedings.

In 2002 the Office of the US Attorney in Dallas, Texas abruptly announced that the investigation had been closed and that no charges would be filed.[6] Neither the US Attorney's office nor the alleged victims of the scheme would publicly comment on that case.

References[edit]

  1. ^ a b c d e Dolan, Kerry A. (31 March 2014). "Press-Shy Canadian Electronics Billionaire Robert Miller Breaks His Silence". Forbes. Retrieved 15 July 2015. 
  2. ^ "DeSoto lands electronics warehouse - Memphis Business Journal". Bizjournals.com. 2002-10-27. Retrieved 2013-09-04. 
  3. ^ "Top 25 Global Franchised Distributors" (PDF). I.cmpnet.com. Retrieved 2013-09-04. 
  4. ^ "Future shock". Forbes. 1999-12-27. 
  5. ^ "Court rules in favour of Future Electronics over police raid". Electronics Weekly. 2000-12-13. 
  6. ^ "Feds end Future probe without giving reasons - Dallas Business Journal". Bizjournals.com. 2002-04-28. Retrieved 2013-09-04. 

External links[edit]