iPhone-maker Foxconn buys Belkin, Linksys, Phyn and Wemo for $866 million

Foxconn -- the Taiwanese company famed for producing iPhones -- has announced that it is acquiring Belkin International for $866 million in cash. Belkin is also the owner of Linksys, Wemo and Phyn, making the purchase an interesting expansion for Foxconn Interconnect Technology Limited (FIT) and quite a shift in direction. The merger sees the company widening its interests into accessories, networking gear and smart home devices. See also: Trump blocks Broadcom's takeover of Qualcomm, citing national security Broadcom may buy Qualcomm for $100 billion This is the first time FIT has tried its hand at running consumer-facing brands, having… [Continue Reading]