Foxconn Announces Purchase of Belkin, Wemo, and Linksys
Foxconn Announces Purchase of Belkin, Wemo, and Linksys
Published on March 27, 2018 at 10:00AM
Foxconn, the Taiwan-based company best-known for manufacturing Apple products announced that one of its subsidiaries (Foxconn Interconnect Technology) is purchasing U.S.-based Belkin for $866 million in cash. "Belkin owns a number of major brands, including Linksys and Wemo," notes Android Police. From the report: The buyout would make Foxconn a major player in consumer electronics, instead of just a contract manufacturing company. Belkin primarily sells phone/tablet accessories, but also manufactures networking equipment like routers and Wi-Fi range extenders. The company also sells a range of smart home products under the Wemo brand. According to The Financial Times, the purchase is subject to approval from the U.S. Committee on Foreign Investment. In other words, there is a very real chance the acquisition could be blocked. President Trump blocked Broadcom's acquisition of Qualcomm earlier this month, based on advice from the committee.
Hope you like this please comment your view and share to your friends thanks for visiting bye guys meet you in next post
Published on March 27, 2018 at 10:00AM
Foxconn, the Taiwan-based company best-known for manufacturing Apple products announced that one of its subsidiaries (Foxconn Interconnect Technology) is purchasing U.S.-based Belkin for $866 million in cash. "Belkin owns a number of major brands, including Linksys and Wemo," notes Android Police. From the report: The buyout would make Foxconn a major player in consumer electronics, instead of just a contract manufacturing company. Belkin primarily sells phone/tablet accessories, but also manufactures networking equipment like routers and Wi-Fi range extenders. The company also sells a range of smart home products under the Wemo brand. According to The Financial Times, the purchase is subject to approval from the U.S. Committee on Foreign Investment. In other words, there is a very real chance the acquisition could be blocked. President Trump blocked Broadcom's acquisition of Qualcomm earlier this month, based on advice from the committee.
Read more of this story at Slashdot.
Hope you like this please comment your view and share to your friends thanks for visiting bye guys meet you in next post
Foxconn Announces Purchase of Belkin, Wemo, and Linksys
![Foxconn Announces Purchase of Belkin, Wemo, and Linksys]()
Reviewed by Kartik
on
March 27, 2018
Rating:
No comments: