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The two companies announced the signing of a definitive agreement today.
Foxconn, the famed Taiwan-based manufacturer behind approximately 40 percent of all consumer electronics (including the iPhone), has agreed to purchase Belkin for $866 million in cash.
FIT plans on creating a smart home business with Belkin, possibly creating products that work with HomeKit, as well as other smart home ecosystems such as Amazon's Alexa or Google Home.
"FIT is excited to acquire Belkin and its capabilities in the premium consumer products space", said Sidney Lu, CEO of FIT.
"This move will accelerate our vision of delivering technology that makes the lives of people around the world better, more convenient and more fulfilling", Pipkin said.
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Strampel is now in the Ingham County Jail system, according to jail records. "He will be joined by 1st/Lt. At least 12 reported assaults occurred after the probe ended, according to a university police report.
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Connectivity options include, Wi-Fi 802.11 b/g/n, GPS/AGPS, Bluetooth 4.2, a micro USB 2.0 port and a 3.5mm headphone jack. It is backed up a 2150mAh battery and is rated to deliver up to 9 hours of talk time and up to 15 days of standby time.
As well as Belkin's range of own-branded network, cable, cases, wireless networking, and other accessories, the acquisition will also bring the Wemo home automation, Linksys SOHO network, and Phyn "smart home water" brands under Foxconn's umbrella.
Belkin, a california-based manufacturer of Wi-Fi routers, mobile device chargers and keyboards, with over 700 patents, generated sales of about $789 million in the fiscal year ended September 30.
Meanwhile, Foxconn is investing heavily in Wisconsin, where it plans to build a $10 billion manufacturing facility. Chet Pipkin, CEO and founder, Belkin International will join FIT's management team. We see significant synergies with FIT, including leveraging its world-class manufacturing capability to enhance Belkins operating efficiency and competitiveness.
In a filing with the Hong Kong Stock Exchange on Tuesday, FIT Hon Teng said its merger with Belkin will give it access to the company's sales networks, technology, and production capabilities, along with more than 700 patents.
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