Belkin

Belkin proposes a range of the innovative solutions for a full integration of computer and household electronic devices that Wednesday in which they are used (at home, in the machine, on a trip). The Belkin private company founded in 1983 in California. Belkin branches include in the USA the headquarters in Los Angeles, the center of distribution in Indianapolis awarded awards group of industrial design in Hollywood and the research enterprise in Rochester, the State of New York. The main enterprises are located in Great Britain and the Netherlands. Our branches are widespread on the whole Europe, Asia, Latin America. Our offices are in Australia, New Zealand, Korea and also recently appeared also in Hong Kong.

History

2018: Foxconn buys Belkin for $866 million

On March 27, 2018 the contract producer of electronics Foxconn announced Belkin acquisition to expand sales of the branded goods. The cost of the transaction is $866 million. All amount will be paid from own means of the buyer (without transfer of the stocks to a part).

According to the Bloomberg news agency with reference to the statement which Foxconn made for the Hong Kong stock exchange Belkin is bought by "subsidiary" of Foxconn – FIT Hon Teng company which as a result of the transaction will get access to great opportunities for research and development thanks to more than 700 patents which are owned by the American company.

The producer of accessories for the Belkin smartphones is sold for $866 million

Belkin International is world-wide recognized brand with wide range of products, services and solutions in the field of consumer electronics, – FIT stated.

Also in the company consider that purchase of Belkin will strengthen a portfolio of bonus consumer products and will accelerate strengthening of positions of FIT in the market of the "smart" house.

Foxconn known first of all for assembly of iPhone by request of Apple, aims to weaken dependence on core business - contract manufacturing of electronics – to increase sales of own branded products. In 2016 Sharp was purchased that allowed Foxconn to market TVs and also were invested in artificial intelligence technologies and processings of Big Data.

According to the founder and the CEO of Belkin Chet Pipkin, the transaction with Foxconn provides "considerable synergies" and provides the companies more resources for investment into the personnel and market opportunities.

Purchase of Belkin will be considered by Committee on the foreign investments of the USA (CFIUS) which watches closely all transactions, so far as concerns sale of the American assets. Foxconn is Taiwanese company, however it actively expands production of the USA that the authorities should consider, considering merger of Belkin.^[1]

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