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Monday, January 28, 2013

Belkin plans to acquire Linksys from Cisco

Networking and mobile phone accessory business Belkin has agreed to acquire the Linksys brand along with Cisco’s Home Networking Business Unit. Cisco has owned Linksys for the past ten years.

Belkin says it’ll maintain the Linksys brand and will continue to support Linksys products. It also plans to work together with Cisco “on a variety of initiatives including retail distribution, strategic marketing and products for the service provider market.”

Chet Pipkin, CEO of Belkin, said “We’re very excited about this announcement. Our two organizations share many core beliefs – we have similar beginnings and share a passion for meeting the real needs of our customers through the strengths of an entrepreneurial culture. Belkin’s ultimate goal is to be the global leader in the connected home and wireless networking space and this acquisition is an important step to realizing that vision. We look forward to honoring the heritage of the Linksys brand and investing in the continuing evolution of its product portfolio. Together, we will provide a powerful, simple to use, and reliable wireless and networking platform for the markets we serve.”

Financial details haven’t been revealed; the transaction is expected to be completed in March.

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Author: The Fonecast
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