Belkin is acquiring Cisco’s Home Networking business unit, including its products, technology, the Linksys brand, as well as the employees. Specific financial terms of the transaction are undisclosed.
Chet Pipkin (CEO,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.
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.
After the transaction closes, Belkin will account for approximately 30 percent of the U.S. retail home and small business networking market.
The transaction is subject to various standard closing conditions and is expected to close in March 2013.
[Image courtesy: Belkin]