Foxconn is a name that some might think of when it comes to manufacturing iPhones. Belkin on the other hand is a brand that some might associate with smartphone accessories, such as cables, cases, chargers and so on. Now it looks like both companies will be one, or to be more specific, Foxconn will be acquiring Belkin.Now Belkin is a brand that is more than just about accessories. Under its umbrella, Belkin also plays home to other brands such as WeMo and also Linksys who makes routers, which means that this acquisition for Foxconn will no doubt help to expand its portfolio and offerings to end-consumers.
The deal has been reported to be worth $866 million and according to Chet Pipkin, CEO and founder of Belkin, “We see significant synergies with FIT, including leveraging its world-class manufacturing capability to enhance Belkin’s operating efficiency and competitiveness. The transaction also grants us access to more resources to invest in our people and to aggressively pursue opportunities in the marketplace.”
For those who are worried about what this means for future products, you can rest assured because according to Belkin’s press release, the company and its brands are expected to continue operating as per usual. That being said, the acquisition has yet to be approved and given the US government’s apparent wariness of Chinese companies, we’re not sure if it will go through, but we’ll have to wait and see.
Filed in . Read more about Belkin, Connected Objects, Foxconn, IoT (Internet of Things) and Linksys.