In September 2018, Belkin was purchased by Foxconn, a Taiwanese multinational electronics firm and the largest provider of electronics manufacturing services, for $886 million. In 2016, Belkin, in a joint venture with water solutions company Uponor, formed Phyn, a home water management tech brand. In March 2013, Belkin acquired Cisco Systems' Home Networking Business Unit, including the Linksys brand and product line. In 2012, Belkin launched the WeMo brand to produce smart home products. In 2008, Belkin pivoted toward smartphone usage and designed new products for the smartphone accessory market. Pipkin bought back those shares within the following years. īelkin was privately run until 2002 when Summit Partners, a private equity firm, purchased a small stake in the company. In the early 2000s, Belkin expanded its product line to accommodate smartphone and tablet users with hardware accessories including chargers and connector cables. ![]() In the 1990s, Belkin added surge protectors and USB storage devices to its product line. manufacturing, Belkin began contracting Asian factories to increase production for a global market. Belkin performed its cable manufacturing in the United States, which gave the company a fast turnaround for customers. On January 1, 1983, Pipkin moved into a professional workplace and hired his first full-time employees. In 1982, Pipkin left his university studies to focus on expanding the business. As Pipkin's cable connector sales grew in Southern California, he recruited assembly help from his machinist father, brother and a handful of friends. Pipkin began to sell computer-to-printer cables to local computer shops. In the early 1980s, Chet Pipkin founded Belkin in his parents' home in Hawthorne, California, to manufacture computer cables for the new personal computer and tech accessory market. While attending UCLA, Chet Pipkin, who was spending his time in local computer shops, saw the growing need for cables that would connect personal computers to new printers being released for home use. It now operates as an independent subsidiary. In 2018, Belkin was acquired by Foxconn, the largest provider of electronics manufacturing services. These include wireless chargers, power banks, charging cables, data cables, audio and video adapters, headphones, earbuds, smart speakers, screen protectors, surge protectors, Wi-Fi routers, smart home products, electronic device sanitizers, docking stations and data hubs, network switches, KVM switches and network cables.īelkin is the parent company for Linksys and WeMo branded products and services, as well as the smart home water management company, Phyn. It produces mobile and computer connectivity devices and peripherals for consumer and commercial use. ![]() Want more news? Subscribe to CPI’s free daily newslette r for more headlines and updates on antitrust developments around the world.Belkin International, Inc., is an American consumer electronics and networking company headquartered in El Segundo, California. That said, Foxconn has pledged to build a $10 billion factory in Wisconsin, which could help it stay on the administration’s good side. Given that there have been other high profile foreign acquisitions shut down under the Trump administration, one shouldn’t consider this purchase safe - especially since it involves networking equipment. The Financial Times notes that the purchase should be subject to approval from the US Committee on Foreign Investment, meaning it isn’t a done deal just yet. And it’s been running a smart home system called Wemo for more than five years now.įoxconn will pay $866 million in cash to acquire Belkin. Belkin purchased Linksys, which is well known for its home routers, in 2013. A subsidiary of Foxconn, Foxconn Interconnect Technology, announced today that it would acquire Belkin, which also owns the brands Linksys and Wemo.īelkin, based in California, has been around for 35 years and is known today for creating an array of computer and phone accessories, including wireless chargers, laptop docks, and phone cases. The Taiwanese company known best for manufacturing iPhones, Foxconn, will soon be the company behind some of the best known routers and other computer accessories.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |