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Foxconn set to acquire Belkin, Linksys and Wemo

Foxconn is continuing its expansion plans with the acquisition of Belkin. (Source: Fortune)
Foxconn is continuing its expansion plans with the acquisition of Belkin. (Source: Fortune)
Foxconn is set to acquire Belkin, and with it, Linksys and Wemo. The US$866 million deal is, however, subject to review by the US Committee on Foreign Investment.

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. In purchasing Belkin, it will also pick up Linksys and Wemo, which are owned by Belkin. The acquisition is valued at US$866 million in cash and follows its acquisition of Sharp in 2016.

The move shows that Foxconn is keen to expand its operations and footprint beyond being simply a manufacturer of products, not only for Apple, but other companies like Microsoft, and into a much more fully fledged technology company. Belkin is of course well known for its consumer technology accessories, while Linksys is a major wirelesss solutions maker. Wemo is growing a reputation as smart home solutions product designer.

The Taiwan-based company will likely be somewhat nervous about the deal going through, as it will first need to pass through the US Committee on Foreign Investment. The Committee recently raised red flags over the now failed bid by Singapore-based Broadcom to acquire Qualcomm. Citing national security concerns, the Trump administration banned the deal before the Committee had even reached a recommendation on the matter.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2018 03 > Foxconn set to acquire Belkin, Linksys and Wemo
Sanjiv Sathiah, 2018-03-27 (Update: 2018-03-27)
Sanjiv Sathiah
Sanjiv Sathiah - News Editor
I have been tech-obsessed from the time my father introduced me to my first computer, an Apple ][. Since then, I have grown to enjoy exploring and experimenting with any computing platform that I can get my hands on – I am the definitive early adopter! I have always been interested in how we can use technology to shape and improve our lives, most recently using it to record, mix and master my debut record, Acuity – Nature | Nurture out now on Spotify.