Phyn

Foxconn Interconnect Technology this week signed a definitive agreement to take over Belkin International, the company that controls such brands as Belkin, Linksys, Wemo, and Phyn. Foxconn will pay $866 million in cash for Belkin’s assets. Under the terms of the agreement, Belkin will become a subsidiary of FIT, and all the brands will be preserved. Chet Pipkin, CEO and founder of Belkin, will remain at the head of the subsidiary. As part of the announcement, Foxconn promises that it will increase R&D spending of Belkin and grow the company’s portfolio of products. Belkin and Linksys are primarily known for their PC/mobile accessories and network equipment, whereas the Wemo and Phyn brands are used to market smart home equipment. Foxconn believes that all of the product...