Foxconn buys Belkin, Linksys and Wemo for $866 million

Foxconn, who is known for manufacturing Apple products in Taiwan, has bought consumer electronics brands Belkin, Linksys and Wemo fo US $866 million.

A subsidiary of Belkin FIT Hong Ten will acquire Belkin by way of a merger. The acquisition of Belkin includes Linksys, Phyn and Wemo. With the merger, FIT will own all 700 of Belkin’s patents, which will come in handy in developing new smart home and networking businesses.

Belkin has built a reputation for creating quality accessories for Apple products and is well-represented in Apple Retail Stores.

Source: 9to5Mac