Published On: Mon, Mar 26th, 2018

Foxconn To Acquire Belkin

Taiwanese company Foxconn, which is well known as manufacturer of Apple’s iPhone, is learned to be soon acquiring Belkin and Linksys.

Foxconn To Acquire Belkin

Belkin is a Califronia-based company focusing on creating computer and phone accessories including laptop docks, wireless chargers and phone cases. It was founded some 35 years ago and in 2013 acquired Linksys, which is popular for making home routers. Following the acquisition the firm created Wemo, a smart home system.

Foxconn’s purchase of Belkin will be a major shit in its business focusing on owning three major consumer brands instead of just being a behind-the-scenes manufacturing partner of Apple for iPhone.

More than half of its sales come from Apple and so wave of risk may hit the business if the iDevice giant changes partner or iPhone loses popularity.

According to The Financial Times, the deal between Foxconn and Belkin may strike at $866 million cash, but it is still subject to approval from the US Committee on Foreign Investment.

Lately several high profile foreign acquisitions have been shut down under Trump administration.

However, Foxconn had earlier vowed to be coming up with a $10 billion factory in Wisconsin and this is considered as something on the safer side for the company to acquire Belkin.

About the Author

- Paul Linus is an eminent online journalist who has been writing news, features and editorials on different websites from across the world for about a decade. He can be contacted at knowledgeherald@gmail.com

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