FLAGSTAFF, Ariz.--Belkin said Thursday (Jan. 24) it will acquire
Cisco’s Home Networking Business Unit, which includes the Linksys
products, for an undisclosed sum. The acquisition will
give privately held Belkin, based in Playa Vista, Calif., a 30
percent of the U.S. retail home and small business networking
Currently, Belkin has a range of wired, wireless and powerline
networking products under the Belkin brand. Company officials said
they will maintain the Linksys brand.
Linksys for $500 million almost exactly 10 years ago,
as the networking giant expanded its reach into home-networking.
The company spent years trying to find its way in the consumer
world only to begin to unwind or kill those investments beginning
a few years ago, most notably ending
production of the popular Flip video camera as smart
phones took over that application.
Chet Pipkin, CEO of Belkin said, "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
Specific financial terms of the transaction are undisclosed. The
transaction is subject to various standard closing conditions and
is expected to close in March 2013.