US/Taiwan: Foxconn buys Belkin, 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. A subsidiary of Foxconn, Foxconn Interconnect Technology, announced today that it would acquire Belkin, which also owns the brands Linksys and Wemo.

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. Belkin purchased Linksys, which is well known for its home routers, in 2013. And it’s been running a smart home system called Wemo for more than five years now.

Foxconn will pay $866 million in cash to acquire Belkin. 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. Given that there have been other high profile foreign acquisitions shut down under the Trump administration, one shouldn’t consider this purchase safe — especially since it involves networking equipment. That said, Foxconn has pledged to build a $10 billion factory in Wisconsin, which could help it stay on the administration’s good side.

Full Content: Financial Times

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