Foxconn belkin acquisition

foxconn belkin acquisition Foxconn will be acquiring Belkin International and all of its brands for $866 million in a cash deal. Om Malik: “I can’t put my finger on why, but this acquisition seems weird to me,” writes John Gruber, describing Foxconn’s decision to buy Belkin for $866 million. Foxconn Interconnect Technology (FIT) Limited has signed a deal worth US$866 million to acquire California-headquartered Belkin International, as part of its bid to create a “global consumer electronics leader”. You might think of Belkin solely as a Om Malik on Foxconn Buying Belkin. Foxconn To Purchase Belkin, WeMo And Linksys Brands For $866 Million Foxconn is most known for building numerous devices for other major electronics companies such as Apple; in fact, Foxconn is tipped to be building the majority of the rumored new MacBook Air models. The acquisition of Belkin, which is based in Los Angeles, gives Foxconn a major U. Foxconn Interconnect Technology Limited, a subsidiary of Taiwan’s Hon Hai Precision Industry is all set to acquire Belkin International. Foxconn, a Taiwan-based company that is best known for manufacturing products for companies like Apple, Amazon, and Microsoft, has signed a definitive agreement to acquire Belkin, which is the parent company to its name brand, along with the Linksys and Wemo brands. Foxconn said the Belkin acquisition will enable it to better tap into the premium accessories and smart home market. A definitive agreement was signed by both parties that still has to be approved by US authorities. belkin. The takeover will see the cable-making company expand into the consumer electronics Foxconn Buys Belkin, Linksys, and Wemo. However, it’s important to remember that the acquisition will be subject to regulatory approvals by the US government, since the deal involves an American company being acquired by a foreign one. As of late, Belkin’s been using the Wemo brand to penetrate home automation. Foxconn Interconnect Technology, a unit of the Taiwan-based Apple supplier Foxconn, is acquiring Belkin Intl. electronics company Belkin in a $866 million merger. (Belkin , Linksys , Wemo , Phyn brands) jointly announced today the signing of a definitive agreement under which FIT agreed to acquire Belkin International for approximately US$866 million in cash, creating a global consumer electronics leader. maker of computer accessories. Foxconn Acquisition of Belkin and Linksys admin | April 3, 2018 | eBusiness | 1 Comment Foxconn subsidiary, Foxconn Interconnect Technology, reportedly acquired Belkin, a manufatur of connectivity devices that also oversees the brand Linksys and Wemo. The announcement was made on Tuesday, and FIT will acquire Belkin by way of a merger. Ltd. Taiwanese company Foxconn’s subsidiary Foxconn Interconnect Technology, has acquired accessory firm Belkin and its associated brands, Linksys, and Wemo in an $866 million cash deal. comand www. Renowned Taiwanese manufacturer Foxconn (contracted by Apple to make iPhones) just made a startling acquisition. Foxconn, the Taiwanese manufacturer responsible for manufacturing the Apple iPhone, has announced plans to acquire Belkin and its Linksys and Wemo subsidiary brands for $866 million in cash, by Tech accessories manufacturer, Belkin, has today found a buyer, after being on the market for reportedly three years. The deal involves Foxconn Interconnect Technology Ltd. S. The acquisition strengthens Belkin’s connection to Apple (NASDAQ: AAPL) by aligning with the parent company that manufactures iPhones. Foxconn Interconnect Technology (FIT), a subsidiary of the Taiwanese company Foxconn—best known for manufacturing Apple’s iPhones—has acquired Belkin, owner of the Linksys and Wemo brands The acquisition of Belkin, which is based in Los Angeles, gives Foxconn a major U. Foxconn, the Taiwan company known for making Apple’s iPhones, is set to acquire well-known tech company Belkin along with its brands Linksys and Wemo, the Verge reported Monday. They bought home router manufacturer Linksys back in 2013 and around the same time, they have been running smart home system brand Wemo. Every one of these internet-connected devices will need to plug into the router at some point, so it's easy to see why Foxconn would want to start there. In 2017, Foxconn was in the news for announcing plans to build a manufacturing facility in Wisconsin at a cost of $10 billion. The Curious Case of the Belkin Buy. FIT will fund the acquisition through its internal resources, equity or debt financing through capital markets or a combination. Using their new acquisition Foxconn is expected to create more premium accessories for the smart home market. Belkin is a Taiwanese hardware manufacturer Foxconn, which is contracted by Apple to make its iPhones, has agreed to acquire accessory firm Belkin and its associated brands, Linksys, and Wemo for $866 million Foxconn Acquires Belkin Matt Van Dyke March 27, 2018, 1:46 pm April 24, 2018 564 Taiwan’s Foxconn has bought California-based accessory maker Belkin , as well as associated brands Wemo, Linksys and Phyn, for $866 million in cash, the companies announced Monday. The company is known for manufacturing iPhones and other consumer electronics and plans to step into home automation with the acquisition. Foxconn, the world’s largest contract electronics manufacturer, just bought Belkin and its subsidiary brands for $866 million. Foxconn to acquire Belkin, Linksys, and Wemo for $866 million 03/27/2018 at 2:54 PM by Brad Linder 4 Comments Taiwanese manufacturer Foxconn is already one of the biggest companies in the consumer Apple supplier Foxconn buys Belkin, Linksys, Wemo for $866M A subsidiary of longtime Apple supply partner Foxconn on Monday announced the acquisition of popular accessory maker Belkin, which also owns Linksys, Phyn and Wemo brands, for approximately $866 million. Now it looks like both companies will be one, or to be more specific, Foxconn will be acquiring Belkin. Photo: Belkin Foxconn, the Taiwanese contract manufacturing giant known for assembling the iPhone and other tech gear, is buying Belkin, a leading maker of accessories for $866 million in cash. Belkin on the other hand is a brand that some might associate with smartphone accessories, such as cables, cases, chargers and so on. Belkin is a well-known company which makes the home automation products. , one of the pivotal players across the consumer electronics space. Chet Pipkin, CEO and founder of Belkin, will remain at the head of the subsidiary. The acquisition is an all-cash deal. The latter is primarily known for its high-quality iPhone and MacBook accessories. The acquisition includes the Belkin brand along with Linksys, Wemo, and Phyn, other companies owned by Belkin. Foxconn Interconnect Technology (FIT), a Foxconn subsidiary, today announced that it has acquired Belkin International in a deal that’s worth $866 million. , part of the contract manufacturing giant Foxconn Technology Group, agreed to buy Belkin International Inc. Foxconn is pretty keen on expanding its remit away from just being known as the company that builds the iPhone. Foxconn Interconnect Technology Limited (FIT), a subsidiary of Hon Hai Precision Industry Co. McDonald’s gives pranksters $50000 after they hung a fake ad to make a point about representation; 6 Celebrities Who Called Out Their Exes On Social Media Tagged: wemo, millions, linksys, foxconn, belkin, acquisition. That’s a major shift for Foxconn, taking it from a behind-the-scenes manufacturing partner to the owner of three major consumer brands. These are well-reputed companies in their respective field. , Ltd. Belkin has more than 700 patents in its portfolio, including those of Linksys home routers, Belkin wireless accessories, and Wemo smart home products. Foxconn Interconnect Technology Limited (FIT), a company most famous for being a supplier of Apple’s smartphone products announced it has bought US consumer electronics and smart home maker Belkin International for $866M. Foxconn will pay $866 million in cash to acquire Belkin. . The company has announced the acquisition of popular accessory maker Belkin for US$866 million (RM3. , and Belkin International, Inc. Linksys, Wemo and Phyn will join Foxconn Interconnect Technology Limited (FIT), a subsidiary of Hon Hai Precision Industry Co. Specifically, Foxconn Interconnect Technology Limited (FIT), a subsidiary of Hon Hai Precision Industry Co. Belkin and its sub-brands are expected to operate as a separate subsidiary of Foxconn under its existing executive team, while Belkin CEO Chet Pipkin is expected to join the Foxconn management team. Taiwanese hardware manufacturer Foxconn on Monday announced the acquisition of accessory firm Belkin and its associated brands, Linksys, and Wemo. The Taiwanese company known best for manufacturing iPhones, Foxconn, will soon be the company behind some of the best known routers and other computer accessories. Foxconn, a Taiwanese multinational contract manufacturing company has announced the purchase of Belkin, Linksys & WeMo. “FIT is excited to acquire Belkin and its capabilities in the premium consumer products space,” said Sidney Lu, CEO, FIT. “FIT is excited to acquire Belkin and its capabilities in the premium consumer products space,” said Sidney Lu, FIT CEO. The takeover will see the cable-making company expand into the consumer electronics market with brands such as Belkin, Linksys, Wemo and Phyn. Foxconn targets accessory market with Belkin takeover Shares Chinese electronics manufacturer Foxconn is to acquire accessory maker Belkin in a deal worth $866 million (£612m). Committee on Foreign Investment. Taiwanese contract manufacturer, Foxconn today announced the acquisition of popular smartphone accessories manufacturer Belkin. (Belkin®, Linksys®, Wemo®, Phyn® brands) jointly announced today the signing of a definitive agreement under which FIT agreed to acquire Belkin International for approximately US$866 million in cash, creating a global consumer electronics leader. The deal to buy the electronics maker has a price tag of $866 million (roughly Rs. Belkin purchased Linksys, one of the world’s best known brands in home routers, in 2013. The WeMo bridge is part of the brands Foxconn will acquire. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences. linksys. jointly announced the signing of a definitive agreement under which FIT has agreed to acquire Belkin for $866 million by way of cash merger on Monday. Foxconn claims its acquisition of Belkin will allow it to become a “global consumer electronics leader”, and accelerate its products’ penetration in the “smart home” era. -based Belkin for $866 million in cash . Foxconn spent $866 million to acquire Belkin, a move that will unite brands like Linksys, famed for Internet routers, and WeMo, a smart home devices maker. has agreed to buy California-based Belkin International for $866 million in cash, the companies announced Thursday. Foxconn Interconnect Technology (FIT), the operating subsidiary for Hon Hai Precision Industry, and Belkin International, Inc. The deal makes Foxconn a brand that markets mobile accessories, routers, and smart home products. In 2016, it announced the acquisition of electronics manufacturer Sharp, while now it has announced that it has bought Belkin. Foxconn Acquires Belkin, Linksys and Wemo and Wades into Smart Home Development March 27, 2018 by John Liu Hon Hai Precision Industry Co. According to the press release, Belkin and its subsidiaries will continue to operate as a subsidiary of Foxconn. electronics accessory maker, for $866 million. Foxconn Interconnect Technology, a Foxconn subsidiary, is acquiring popular accessory maker Belkin for $866 million in cash, the companies jointly announced on Monday. Mergers and acquisitions have decimated the once-thriving Apple accessory industry over the past several years, but the latest deal is more positive than most: Taiwanese manufacturing giant Foxconn announced today that it is purchasing U. However, working conditions have come under scrutiny over the years. The acquisition of Belkin includes Linksys, Phyn and Wemo. Taiwan-based device manufacturing giant Foxconn has announced that it’s buying Belkin, Linksys and Wemo for $866 million USD. Foxconn is a name that some might think of when it comes to manufacturing iPhones. You might think of Belkin solely as a Foxconn Controversies . FIT in a filing to the Hong Kong stock exchange said that the merger with Belkin will give it access to sales networks, technology, and production capabilities. Belkin is a manufacturer of accessories under brand names like Belkin, Linksys, Wemo and Phyn. Belkin is also the owner of Linksys, Wemo and Phyn, making the purchase an interesting expansion for Foxconn Interconnect Technology Limited (FIT) and quite a shift in direction. Tagged: wemo, millions, linksys, foxconn, belkin, acquisition. Taiwanese hardware manufacturer Foxconn reached an agreement Tuesday to acquire U. Foxconn Interconnect Technology (FIT), a subsidiary of the Taiwanese company Foxconn—best known for manufacturing Apple’s iPhones—has acquired Belkin, owner of the Linksys and Wemo brands. The US-based consumer electronics major Belkin's portfolio includes Wi-Fi routers, home automation devices, smartphone covers, keyboards and chargers. The Foxconn acquisition may have a bigger impact than it appears on the surface, because Foxconn is Apple’s manufacturing partner while Belkin has long been offering licensed third-party accessories for Apple devices. 5 billion majority move into Sharp two years ago, will further bring the behind-the-scenes business into the tech industry’s consumer-facing forefront, while giving it some added skin in the smart-home sector. Foxconn is a name you might think of some when it comes to manufacture Apple products, including iPhones, iPads and iPad and Computers Mac. The deal would include the Wemo line of smart home devices and the Phyn leak detection joint venture. Bloomberg | Quint is a multiplatform, Indian business and financial news company. The Foxconn-Belkin deal will have to go thru regulatory review by the US Govt Which might be interesting when considering that the current administration is much more hands on these kinds of deals recently (ref. Under the terms of the agreement, Belkin will become a subsidiary of FIT, and all the brands will be preserved. Financial Times reports that the Foxconn subsidiary will be purchasing Belkin International for $866M. A recent news item piqued my interest in so much as Foxcomm through a subsidiary Foxconn Interconnect Technology Ltd (FIT) has announced that it will pay US$866 million in cash for Belkin International. Foxconn to acquire Belkin, Linksys, and Wemo for $866 million 03/27/2018 at 2:54 PM by Brad Linder 4 Comments Taiwanese manufacturer Foxconn is already one of the biggest companies in the consumer electronics space. Foxconn will pay $866 million in cash for Belkin’s assets. Foxconn Interconnect Technology, a subsidiary of iPhone manufacturer Foxconn, has acquired Belkin, which also owns the Linksys and Wemo brands. Pipkin. Foxconn (FIT) took out the wallet and made four brands for the price of one. Foxconn, the Taiwan-based electronics manufacturer, is acquiring Belkin Intl. It entered into the smart home segment through Wemo more than five years ago. The acquisition is a major shift for Foxconn, better known as an OEM manufacturer for some of the biggest electronic brands in the world. Foxconn, the Taiwan-based company best-known for manufacturing Apple products announced that one of its subsidiaries (Foxconn Interconnect Technology) is purchasing U. "FIT is excited to acquire Belkin and its capabilities in the premium consumer products space," said Sidney Lu, CEO of FIT. , has acquired Belkin, which also owns the Linksys, Phyn and Wemo brands, the company announced on Tuesday. Foxconn says it has agreed to acquire Belkin International for $866 million in cash. Belkin will continue to operate as an independent subsidiary following the takeover and Foxconn believes the deal will grow the Belkin brands too. FIT, is the Hong Kong Exchange-listed unit of Foxconn Group, a Taiwanese tech company best known for assembling iPhones for Apple. Belkin, based in California, makes mobile accessories, home networking and home automation products under the Belkin, Linksys, Wemo and Phyn brands. Foxconn -- the Taiwanese company famed for producing iPhones -- has announced that it is acquiring Belkin International for $866 million in cash. , a part of the contract producing big Foxconn Technology cluster, united to shop for Belkin International INC. Foxconn Acquires Belkin Matt Van Dyke March 27, 2018, 1:46 pm April 24, 2018 546 Taiwan’s Foxconn has bought California-based accessory maker Belkin , as well as associated brands Wemo, Linksys and Phyn, for $866 million in cash, the companies announced Monday. maker of smart home devices, Linksys routers and dozens of accessories and chargers for Apple and Android Foxconn, best known for manufacturing practically everything in the world, has just announced the purchase of Belkin, the PC peripherals company, for $866 million in cash. According to the deal signed by both the companies, FIT will buy out all of Blkin International’s brand portfolio, including Belkin, Linksys, Wemo, and Phyn. The deal to buy the electronics maker has a price tag of $866 million (roughly Rs. “FIT is excited to acquire Belkin and its capabilities in the premium consumer products space,” said Sidney Lu, CEO of FIT. Within the latest move by wealthy person Terry Gou to expand in branded merchandise. The deal to buy the electronics maker has a price Foxconn Interconnect Technology, a Foxconn subsidiary, is acquiring popular accessory maker Belkin for $866 million in cash, the companies jointly announced on Monday. On the other hand, the Belkin is the brand might tie it to the other attachments to smart phones, such as cables, and Protective Covers, and chargers etc. Today Taiwanese manufacturing giant Foxconn – known as the maker of the iPhone announced the purchase of the privately held Belkin. Foxconn Interconnect Technology (FIT) has agreed to acquire Belkin International for USD 866 million in cash. (Belkin , Linksys , Wemo , Phyn brands) jointly announced today the signing of a definitive agreement under which FIT agreed to acquire Belkin International for Now Belkin is a brand that is more than just about accessories. Foxconn to acquire Belkin, Linksys and Wemo for $866 million Matthew Wilson March 27, 2018 Featured Tech News , General Tech Foxconn has been working on expanding over the last few years. Pipkin also stated that Foxconn’s acquisition of Belkin would grant the company access to more resources in an attempt to invest in their people, but also to aggressively seek new opportunities in the marketplace. Belkin founder and chief executive Chester J. Interesting acquisition by Foxconn will give it access to more than 700 Belkin patents. com, www. Foxconn Interconnect Technology this week signed a definitive agreement to take over Belkin International, the company that controls such brands as Belkin, Linksys, Wemo, and Phyn. A subsidiary of Foxconn, Foxconn Interconnect Technology, announced today that it would acquire Belkin, which also owns the brands Linksys and Wemo. Image credits: mysmartprice. Belkin, based in California, has been around for 35 years and is known today for creating an array of computer and phone accessories, including wireless chargers, laptop docks, and phone cases. Source: Belkin Belkin International Inc. “FIT is excited to acquire Belkin and its capabilities in the premium consumer Foxconn acquires Belkin for $866 million Foxconn Interconnect Technology Limited (FIT) and Belkin International, have signed a definitive agreement under which FIT agreed to acquire Belkin International for approximately USD 866 million in cash. , a U. com Linksys is changing hands again with Foxconn buying Belkin for $866 million. Foxconn Interconnect Technology Ltd. Foxconn's ambitions to become something more than just an Apple supplier have taken a big step. As part of the deal, FIT will benefit not only from Belkin’s existing business, but also over 700 patents as well as gaining control of the Linksys, Wemo, and Phyn brands. , a major Apple contract manufacturer, will acquire Belkin, Linksys, Wemo and Phyn brands for approximately US$866 million in cash, according to a statement made by Belkin International. maker of smart home devices, Linksys routers and dozens of accessories and chargers for Apple and Android smartphones and devices. Foxconn acquires Belkin International for $866 million By Jay Bonggolto Neowin @@JayarDecenella · Mar 27, 2018 03:04 EDT with 16 comments Foxconn Interconnect Technology (FIT), a Taiwan-based electronics company known for manufacturing the iPhone , has struck a deal to buy Belkin International for nearly $866 million in cash under a definitive agreement. Foxconn Interconnect Technology Limited (FIT) and accessory maker Belkin International, Inc. Foxconn Interconnect Technology (FIT), a subsidiary of Hon Hai Precision Industry, is acquiring and Belkin International (Belkin, Linksys, Wemo and Phyn brands) for approximately US$866 million in cash, creating a global consumer electronics leader. Foxconn itself is a Taiwanese company famous as an assembler iPhone. com) 80 Posted by BeauHD on Tuesday March 27, 2018 @06:00AM from the smart-home-battle dept. Foxconn acquires Belkin brand for $ 866 million Ave - March 27, 2018 June 15, 2018 The Belkin is one of the most famous brands of accessories for iPhone, iPad and Mac, known to be a bit expensive, but with products premium good quality. 35 billion). Acquiring Belkin is a good way to diversify business, as it’s known for a whole raft of things. Foxconn acquires Belkin for $866 million; Relativity raises $35 Million; and Snapchat acquires PlayCanvas. Author: Apple Glory After this article was published, Apple told Dave Choffnes that his iPhone app, designed to detect net neutrality violations, will be allowed in the iTunes App Store. Foxconn Interconnect Technology (FIT), a subsidiary of Apple iPhone manufacturer Foxconn, has announced the acquisition of Belkin. >Foxconn will pay $866 million in cash to acquire Belkin. Foxconn, which is best known in Foxconn Interconnect Technology (FIT), the Taiwanese company best known for producing the iPhone and a range of other consumer electronics, is to acquire Belkin, its smart home brand Wemo, along with the Linksys and Phyn businesses, for $866 million in cash. And the deal helps Foxconn, which relies heavily on its contract with the computer giant, to expand into consumer-facing products itself. Foxconn, best known for assembling iPhones, has bought Belkin for $866 mn. Foxconn Interconnect Technology Limited (FIT), the Hong Kong Exchange-listed unit of Foxconn, expects to tap into the premium accessories and the smart home market through the acquisition. Besides the accessories you probably associate with Belkin, it also owns other brands like WeMo, Phyn and, most notably, Linksys, which it acquired from Cisco in 2013. Belkin and its circle of relatives of manufacturers will proceed to perform as a Foxconn subsidiary below the management of CEO and founder Mr. Foxconn subsidiary, Foxconn Interconnect Technology Limited (FIT) and Belkin posted a joint statement on Monday to announce the deal. This acquisition is a big move for the Taiwanese company, as it’s been a behind-the-scenes manufacturer up until now. The acquisition includes the Belkin brand along with Linksys , Wemo , and Phyn, other companies owned by Belkin . Posted March 28, 2018 by Om Malik “I can’t put my finger on why, but this acquisition seems weird to me,” writes John Gruber, describing Foxconn’s decision to buy Belkin for $866 million. Keeping the Belkin name seems like an obvious choice, though. Belkin, meanwhile, said the acquisition would help to fuel growth in its product portfolio. in the latest move by billionaire Terry Gou to expand in branded goods. “It will use whatever branding there is already,” he said, rather than try to build a Foxconn brand. Foxconn Acquires Belkin Matt Van Dyke March 27, 2018, 1:46 pm April 24, 2018 564 Taiwan’s Foxconn has bought California-based accessory maker Belkin , as well as associated brands Wemo, Linksys and Phyn, for $866 million in cash, the companies announced Monday. The Belkin acquisition will expand its range and include chargers for the Apple smartphones made in Foxconn factories. FIT Hon Teng agreed to buy the smartphone and electronics accessories maker for $866 million as Foxconn seeks to bolster consumer-branded operations. Whereas Linksys has the specialty of making routers under its Wemo brand. Foxconn Belkin Acquisition: Global Consumer Electronics Leader Linksys Wireless Router Probably, the most notable perk of Belkin acquisition is that it comes with the ownership of one of the best smart home networking lines. Nevertheless, Foxconn's acquisition will mark the first time it has owned and operated a consumer-facing brand in its 44 years, and the plan is to start growing into the smart home business. 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. Foxconn Interconnect Technology (FIT), a Foxconn subsidiary, today announced that it has acquired Belkin International in a deal that's worth $ 866 million. A subsidiary of Foxconn, Foxconn Interconnect Technology, announced today that it would acquire Belkin… The acquisition also covers the brands Linksys, Wemo and Phyn, the three dependents of the peripheral manufacturer Belkin International. March 27 (UPI) --Taiwanese hardware manufacturer Foxconn reached an agreement Tuesday to acquire U. Foxconn Buys Belkin for $866 Million. With the acquisition, Foxconn hopes to accelerate entry into the smart home market. Iconic US consumer electronics player Belkin – owner of the Linksys and Wemo brands – is to be acquired Belkin’s brands include Linksys, Wemo, and Phyn. Foxconn, whose formal appellation is Hon Hai Precision Industry Co, will pay $866 million for Belkin, they will also get, Belkin’s management team, R&D capabilities and retail reach, in an all-cash deal. Taiwanese hardware manufacturer Foxconn, which is contracted by Apple to make its iPhones, has agreed to acquire accessory firm Belkin and its associated brands, Linksys, and Wemo for $866 million in cash, by way of a merger. FIT, a subsidiary of Foxconn, to buy Belkin for $866 million Foxconn Interconnect Technology Limited (FIT) and accessory maker Belkin International, Inc. i dont think the current administration will look too kindly on this. Foxconn, a unit of Hon Hai Precision, is most widely known for manufacturing iPhones for Apple. “[Foxconn Interconnect Technology (FIT)] is excited to acquire Belkin and its capabilities in the premium consumer products space,” said Sidney Lu, CEO, FIT. Tagged: wemo, millions, linksys, foxconn, belkin, acquisition There is an offer on the table for Belkin worth $866m, being made by a Foxconn subsidiary. Foxconn snaps up Belkin—including Linksys, Wemo brands—for $866 million. The acquisition, which would follow Foxconn’s $3. "FIT is excited to acquire Belkin and its capabilities in the premium consumer products space," Foxconn CEO Sidney Lu. Foxconn, traded as FIT Hon Teng Limited, is contracted by Apple to manufacture the iPhone and is expected to use the merger to expand into premium accessories and the smart home market. Foxconn also acquired Sharp in March 2016. Belkin, on the other hand, has been around 35 years and is well known for manufacturing wireless chargers, laptop docks, and smartphone cases. -based Belkin, one of the biggest names in the accessory business. Foxconn, best known for manufacturing practically everything in the world, has just announced the purchase of Belkin, the PC peripherals company, for $866 million in cash. would change title to "Foxconn Buys Belkin (owner of Linksys and Wemo)" to make it sound less like a buying spree. Belkin authorities have also a benefit in this deal. FIT Hon Teng Ltd. Foxconn Interconnect Technology Ltd. maker of smart home devices, Linksys routers and dozens of accessories and chargers for Apple and Android The Taiwanese electronics manufacturer Foxconn, best known for building Apple products such as the iPhone and iPad, has come to an agreement to purchase Belkin for $866 million in cash. According to the Financial Times, Foxconn subsidiary FIT Hong Teng will acquire Belkin for $866 million in cash. iPhone manufacturer Foxconn Interconnect Technology Limited (FIT), commonly known as Foxconn, has has agreed to acquire accessory firm Belkin and its associated brands, Linksys, and Wemo for $866 million in cash, by way of a merger. Pipkin will become chief executive of the new subsidiary. Episode 157: Why Foxconn is buying Belkin and the future of healthcare We discuss two big news issues this week with the first being Foxconn’s offer to buy Belkin for $866 million. Foxconn announced yesterday that it has purchased Belkin, and with it come Linksys, Wemo, and Phyn brands. Foxconn to acquire Belkin International for A$1 billion By Brendon Foye on Mar 27, 2018 12:37PM Foxconn, the company best known for manufacturing iPhones, has revealed plans to acquire consumer electronics vendor Belkin International for $1. A subsidiary of Foxconn, Foxconn Interconnect Technology, announced today that it would acquire Belkin… Foxconn scores hattrick with Belkin, Wemo, & Linksys acquisition Date: 2018-03-27 Author: Dhananjay Punekar Category: #technology Foxconn Technology Group, the largest contract electronics manufacturer, has reportedly decided to purchase Belkin International Inc. There is an offer on the table for Belkin worth $866m, being made by a Foxconn subsidiary. Foxconn Interconnect Technology, a subsidiary of Hon Hai, the company Apple uses to assemble its iPhones, has acquired Belkin for $866 million in cash. Working conditions at Foxconn reportedly led to a string of employee suicides in 2009 and 2010. Similarly, Foxconn's purchase of Belkin - which also covers Belkin subsidiaries Linksys, Wemo and Phyn - gives the Chinese firm a foothold in many lucrative markets, including home and business routers, enterprise networking equipment, smart home devices and more. TheVerge is reporting that Foxconn will pay $866 million in cash to acquire Belkin. A subsidiary of Foxconn, Foxconn Interconnect Technology has announced an agreement to buy Belkin International. Belkin International makes numerous Foxconn Buys Belkin International Foxconn Interconnect Technology Limited (FIT), a subsidiary of Hon Hai Precision Industry Co. Brands under the Belkin umbrella, which will now belong to Foxconn, include Linksys routers and Wemo smart home devices. Linksys, along with D-Link and Netgear, is one of the biggest names in consumer networking equipment like routers and extenders. Companies: #belkin #foxconn #foxconn-interconnect-technology #hon-hai-precision-co #linksys #phyn #wemo Hon Hai Precision Industry Co. As far as FIT and Belkin are concerned, the deal is done, but in reality there’s one big hurdle still to overcome. Foxconn has acquired leading networking devices and accessory maker Belkin International, for a sum of $866 million. The deal will also include other brands in the Belkin portfolio, including Linksys, Wemo, and Phyn. That’s why Foxconn is spending a huge amount to acquire them. And now, arguably the most important dad-news in the history of fathers: Foxconn, the manufacturing giant known for constructing the iPhone and other gear, is buying Belkin, a leading techccessory maker, for $866m. The acquisition strengthens Belkin’s connection to Apple (Nasdaq: AAPL) by aligning with the parent company that manufactures iPhones. (FIT), which is a subsidiary of the Foxconn Technology Group that manufactures a range of electronics products for various global brands. Once the deal is completed, Belkin will become a directly-owned subsidiary of FIT. Belkin is the parent company for the WeMo line of smart home products that includes smart plugs , smart switches, cameras, light bulbs, and more. You might think of Belkin solely as a provide of mobile phone accessories and a smattering of wireless devices, however they also own Linksys and the smart home device provider Wemo, which A Belkin wireless charger. announced the signing of a definitive agreement under which FIT will acquire Belkin International for $866 million. Taiwanese-based Foxconn Interconnect Technology (FIT) announced its acquisition of Belkin and its sub-brands (Phyn, Linksys and WeMo) for US$866 million in cash. The company earlier this year added to its brand portfolio with the acquisition of Belkin, a well-known U. The deal Trendforce says Foxconn could do more deals to acquire established brands. Belkin will continue to operate as a subsidiary of Foxconn under founder Chet Pipkin, who will join FIT TAIPEI and LOS ANGELES – March 26, 2018 – Foxconn Interconnect Technology Limited (FIT) (HKG: 6088), a subsidiary of Hon Hai Precision Industry Co. The acquisition also covers the brands Linksys, Wemo and Phyn, the three dependents of the peripheral manufacturer Belkin International. With this acquisition, Foxconn Interconnect Technology, a subsidiary of Foxconn now own Belkin which owns Linksys and Wemo. Belkin and its sub-brands viz. Foxconn Interconnect Technology Limited and accessory maker Belkin International, Inc. Belkin is perhaps best known for its wide range accessories, from charging hubs to power banks to phone and tablet cases. subsidiary Foxconn Interconnect Technology Limited has confirmed an agreement to acquire Belkin and its subsidiaries for nearly £613 million in cash, giving the company a renewed entry point into the consumer electronics markets. wemo. Qualcomm) Belkin announced on Monday that it had signed an agreement with Apple supplier Foxconn for the acquisition of Belkin International and its Belkin, Linksys, Wemo, Phyn brands for US$866 million. Foxconn, known primarily for assembling iPhones and various other products for Apple, today announced that it has acquired Belkin. This move will accelerate our vision of delivering technology that makes the lives of people around the world better, more convenient and more fulfilling. The cash deal includes Belkin’s associated brands Linksys, Wemo and Phyn. electronics accessory maker Belkin for $866 million. Pending U. Foxconn Acquires Belkin For $866 Million March 27, 2018 Today it has been announced that Foxconn Interconnect Technology Limited , a subsidiary of Hon Hai Precision Industry has this week acquired the Belkin , Linksys , Wemo , Phyn brands in a deal that is worth approximately $866 million in cash. This will be a major shift for Foxconn, making it an owner of three major consumer brands from being a background manufacturing partner. phyn. interesting to attempt another China-US wireless tech acquisition. , a subsidiary of the Taiwanese company that manufactures iPhones, has signed a deal to acquire Belkin International for $866 million in cash. Belkin’s CEO and founder Mr. The company acquired Linksys back in 2013. The Taiwanese firm will pay around $866m (£613m) in cash for Los Angeles-based Belkin and its subsidiaries. government approval, Foxconn subsidiary Foxconn Interconnect Technology will pay $866 million in cash for Belkin, which is known for creating computer and phone accessories like wireless chargers and phone cases. US consumer electronics company Belkin could soon be in the hands of well-known Taiwan-based manufacturer Foxconn if a deal announced today gains approval. Foxconn Interconnect Technology (FIT), a Foxconn subsidiary, today announced that it has acquired Belkin International in a deal that's worth $866 million. Under the terms of the agreement, Belkin along with subsidiary brands Linksys, Wemo and Phyn will be controlled by Foxconn. Avago vs. Foxconn Interconnect Technology, a subsidiary of Apple iPhone assembler Foxconn, has acquired Belkin International for $866 million. Foxconn Acquires Belkin for $866 Million Foxconn, the Taiwanese manufacturing company that makes iPhones, announced the acquisition of Playa Vista-based Belkin for $866 million, the Business Journal reports. Foxconn, better known as a key manufacturer in Apple’s supply chain, has announced that it is acquiring Belkin, Linksys and Wemo through subsidiary Foxconn Interconnect Technology. A Hong Kong-listed subsidiary of Taiwan-based iPhone supplier Foxconn said on Tuesday it had agreed to buy US consumer electronics maker Belkin International for $866 million (€697 million) by way of a merger. Hon Hai subsidiary Foxconn Interconnect Technology Ltd. The acquisition requires the approval of the Committee on Foreign Investment in the US. The approval comes at an interesting time given that earlier this month, President Donald Trump ordered Singapore-based Broadcom abandon its proposed acquisition of San Diego-based Qualcomm, citing national security issues. The company sells chargers, cases, routers, and more. Foxconn acquires U. Headquartered in Playa Vista, California, Belkin International, Inc. The acquisition is notable as Foxconn didn't, until now, own any widely recognized consumer brands. In a joint statement , the companies announced that the all-cash deal is worth approximately $866 million. com FIT can pay $866 million in money for Belkin, a maker Foxconn subsidiary, Foxconn Interconnect Technology, reportedly acquired Belkin, a manufatur of connectivity devices that also oversees the brand Linksys and Wemo. , a maker of smart home devices, including wireless chargers, smart lighting and other home automation, has agreed to be acquired by Foxconn Interconnect Technology Limited (FIT), a subsidiary of Hon Hai Precision Industry Co. Foxconn has acquired Belkin in a $866 million deal. Belkin is a consumer electronics company that designs and sells accessories and other products. Foxconn gathered worldwide recognition for building Apple's iPhones and iPads as well as BlackBerry phones in the 2000s. Foxconn, the Taiwanese manufacturer responsible for manufacturing the Apple iPhone, has announced plans to acquire Belkin and its Linksys and Wemo subsidiary brands for $866 million in cash, by way of a merger. , Ltd, the world’s largest contract electronics manufacturer. Foxconn, the company best known for manufacturing Apple’s iPhones, has agreed to acquire Belkin, a consumer electronics manufacturer, along with its Linksys, Wemo and Phyn brands. , and its brands can also be found on the Web at www. (FIT) will pay $866 million for those badges, along with Belkin’s management team, R&D capabilities and retail reach, in an all-cash deal. Belkin owns the Linksys, Wemo, and Phyn brands. Foxconn is best known for manufacturing consumer devices like the iPhone, 3DS and Xbox One. Foxconn to acquire accessory maker Belkin. Foxconn, the Taiwanese manufacturing company that makes iPhones, announced the acquisition of Playa Vista-based Belkin for $866 million. , is looking to create a “global consumer electronics leader” with the acquisition of California-based, 1983-founded Belkin. Foxconn, the Taiwan-based iPhone supplier has agreed to buy US consumer electronics maker Belkin International by way of a merger. maker of smart home devices, Linksys routers and dozens of accessories and chargers for Apple and Android Foxconn Interconnect Technology Limited and Belkin revealed the move in a joint statement published to Belkin's website, saying the acquisition will be accomplished in an all-cash deal. Belkin has been making cases and accessories for 35 years and has become one of the bigger names in the world of Apple accessories. As part of the deal, FIT will benefit not only from Belkin's existing business, but also over 700 patents as well as gaining control of the Linksys, Wemo, and Phyn brands. The Financial Times notes that the purchase should be subject to approval from the US Committee on Foreign Investment, meaning it isn’t a done deal just yet. Foxconn's acquisition of Belkin will need to be approved by the U. Belkin International. 1 billion (US$866 million). Devin Coldewey, reporting for TechCrunch: Foxconn, best known for manufacturing practically everything in the world, has just announced the purchase of Belkin, the PC peripherals company, for $866 million in cash. That certainly makes it one of the larger consumer electronics acquisitions in recent memory. Now it looks like both companies will be one, or to be more specific, Foxconn will Belkin has been known for creating various tech accessories like wireless chargers, laptop docks, phone cases and power banks among others. According to Belkin’s press release, the acquisition by Foxconn Interconnect Technology (FIT) is designed to enrich the company’s consumer product portfolio and to “accelerate our penetration into the smart home,” says FIT CEO Sidney Lu. The company will continue to be led by Belkin CEO and founder, Chet Pipkin. Foxconn Announces Purchase of Belkin, Wemo, and Linksys (androidpolice. This is the first time in the history of the company that it is moving into consumer-facing brands. 5,624 crores) by way of a cash merger, the companies announced in a joint statement. Belkin is a big deal in modern technology circles, they make an accessory for just about every product and lead the way in fully certified Apple accessories. Belkin issued a statement saying Foxconn In 2013, Belkin bought router and WiFi company Linksys, and more recently acquired Wemo, a maker of “smart home” devices. foxconn belkin acquisition