Taiwanese manufacturer Foxconn is already one of the biggest companies in the consumer electronics space. But for the most part the company manufacturers hardware that’s designed and sold by other companies including Apple, Amazon, Dell, HP, Huawei, Microsoft, Motorola, and Sony, among others.
The company also has subsidiaries such as FIH Mobile which manufacture and sell their own devices. And now it looks like Foxconn wants to expand that part of its business.
The company has announced plans to acquire Belkin International for $866 million.
Belkin is probably best known for making PC and smartphone accessories including chargers, cables, and batteries. But the company also owns Linksys, Wemo, and Phyn, which means that if the deal goes through, Foxconn would pick up:
- a well-known networking/router maker
- a home automation company
- a smart water monitoring system
The plan is to continue running Belkin as a a subsidiary of Foxconn, which means it’s unclear what changes we could expect to the product lineup, if any.
Foxconn would also acquire hundreds of patents, which might be at least as important as the hardware businesses.
But the deal also needs to be approved by regulators, which isn’t necessarily a given these days. So it’s unclear if or when the acquisition will be completed.