A subsidiary of Taiwanese consumer electronics firm Hon Hai Precision Industry Co., or Foxconn, announced that it has agreed to acquire Belkin International, Inc., an American manufacturer of consumer electronics that specializes in connectivity devices, for approximately US$866 million in cash. Foxconn Interconnect Technology Limited (FIT), the Hong Kong Exchange-listed unit of Foxconn, expects to tap into the premium accessories and the smart home market through the acquisition. “FIT is excited to acquire Belkin and its capabilities in the premium …

Foxconn Buys US Consumer Electronics Manufacturer Belkin International For $866M appeared first on China Money Network.


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