January 24, 2013 - Belkin has entered into an agreement to acquire Cisco’s Home Networking Business Unit, including its products, technology, Linksys brand and employees.
“We’re very excited about this announcement,” said Chet Pipkin, CEO of Belkin. “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.”
Belkin intends to maintain the Linksys brand and will offer support for Linksys products as part of this transaction. All valid warranties will be honored by Belkin for current and future Linksys products.
Belkin and Cisco intend to develop a strategic relationship on a variety of initiatives, including retail distribution, strategic marketing and products for the service provider market. Having access to Cisco’s specialized software solutions across all of Belkin’s product lines will bring a more seamless user experience for customers, says the company.
Specific financial terms of the transaction were undisclosed. The transaction is subject to various standard closing conditions and is expected to close March 2013.
