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Foxconn will buy Belkin, Linksys and Wemo for $ 866 million

Taiwanese company Foxconn Interconnect Technology announced the acquisition of a manufacturer of accessories for mobile phones and computers Belkin, which owns the brands Linksys and Wemo. Belkin bought the Linksys router manufacturer in 2013, and Wemo has been developing a platform for smart homes for five years.

According to the data, the deal will amount to $ 866 million, but it still should receive the good from the controlling bodies and the committee on foreign investment. As noted by The Verge, the Trump administration had previously blocked some transactions with foreign capital. At the same time, Foxconn is actively investing in the US economy – the company intends to build a new factory in Wisconsin for $ 10 billion.

Foxconn Interconnect Technology is one of the divisions of Hon Hai Precision Industry, whose products are not targeted at the consumer market.

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