Future Technology Devices International,FTDI, a world-leading enterprise in USB bridge chips, was founded in 1992 and is headquartered in Glasgow, UK. It specializes in the design, R&D and sales of USB bridge chip-related products, including USB bridge chips, modules, cables and supporting software.
The USB bridge chip market is monopolized by international manufacturers, with leading market share held by FTDI, Silicon Labs, Microchip, Texas Instruments and Infineon.
FTDI boasts market-recognized product lines such as high-speed and ultra-high-speed USB 3.0 series, which are widely applied in fields like electric vehicles, IoT, industrial control, medical devices and battery charging, accounting for nearly 20% of the market share. FTDI’s core technology lies in high-performance analog chips, making it a high-quality asset with profound technical heritage, leading market position and strong industrial enabling capabilities.
According to public financial report data, FTDI’s revenues in 2020 and 2021 reached $62.9486 million and $72.1807 million respectively, with net profits standing at $1.0449 million and $13.0318 million. The company’s gross profit margin exceeds 70%.
FTIDHL is actually controlled by an investment institution led by JAC Capital and Shenzhen Electrical Contact Tech Co., Ltd.
As early as August 2021, Shenzhen Electrical Contact Tech Co., Ltd. collaborated with the investment institution led by JAC Capital (JAC led the acquisition of Nexperia Semiconductor in 2017) to jointly establish Dongguan Feite Semiconductor Holding Co., Ltd.
On February 11, 2022, Feite Semiconductor, through its wholly-owned subsidiary FTIDHL established in the UK, acquired 80.2% of FTDI’s equity with a total of $414 million, including $364 million of its own funds and a $50 million overseas bank M&A loan.
FTIDHL is listed as a dormant company by UK Companies House because it does not conduct transactions or generate any revenue. The company has two current directors who share the same UK correspondence address but are listed as Chinese citizens and reside in China.
The UK government stated that FTIDHL’s acquisition of control over FTDI was regarded as a "trigger event" for investigation under Section 8(2)(c) of the National Security and Investment Act 2021. After a lengthy investigation, in early November 2024, the UK government issued a latest executive order requiring FTIDHL to sell its 80.2% stake in FTDI. The order took effect on November 5, 2024.
On December 3, 2024, FTIDHL filed a judicial review application against the executive order with the court and applied for interim relief or a suspension of the final order’s effect pending the ruling on the claim. Ultimately, the court held that FTIDHL’s acquisition of the majority of FTDI’s shares posed a risk to UK national security, and the risk was real and significant. Granting interim relief would prolong the duration of the risk. Therefore, the court rejected FTIDHL’s application for interim relief.
