iPhone-maker Foxconn buys Belkin, Linksys, Phyn and Wemo for $866 million
Foxconn -- the Taiwanese company famed for producing iPhones -- has announced that it is acquiring Belkin International for $866 million in cash.
Belkin is also the owner of Linksys, Wemo and Phyn, making the purchase an interesting expansion for Foxconn Interconnect Technology Limited (FIT) and quite a shift in direction. The merger sees the company widening its interests into accessories, networking gear and smart home devices.