Foxconn acquisitions Belkin and Linksys

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Foxconn's subsidiary, Foxconn Interconnect Technology, reportedly acquired Belkin, a manufacturing connectivity device that also oversees Linksys and Wemo brands.

Foxconn itself is a Taiwanese company famous as an assembler iPhone. Meanwhile, Belkin, headquartered in California, USA, is known as a manufacturer of computer and phone accessories, including wireless chargers, laptop docking, and mobile phone casings.

In 2013, Belkin acquired Linksys, which is famous for network devices like routers. While Wemo is a smart home system made Belkin has been circulating in the market for more than five years.

Foxconn paid US $ 866 million to acquire Belkin. However, the business agreements of the two cross-border companies must be approved by the Committee on Foreign Investment in the United States (CFIUS).

Surely this is of particular concern, considering the Broadcom process that wants to acquire the latest Qualcomm must run aground, with just one decree President of the United States, Donald Trump.

Foxconn promised to build a US $ 10 billion plant in Wisconsin, one of the states in the United States. This move is considered to expedite Foxconn intention to acquire Belkin who also came from the US.

Since the beginning of 2018, Foxconn is said to have discussed the company's development plans and diversified its business. One of them is Belkin purchase plan. So, in the future, Foxconn is not too dependent on the iPhone.

So when Apple turned to other partners, or even lost popularity though, Foxconn did not have to bother to defend his business.