Foxconn, the company that makes the iPhone, has acquired Belkin for $866 million

Taiwanese giant Foxconn, best known to the western world as the company that manufactures the iPhone for Apple, has bought accessory maker Belkin, as well as associated brands Wemo, Linksys and Phyn, for $866 million in cash, the companies announced Monday. 

California's Belkin is best known for its array of phone and PC accessories; Linksys manufactures networking equipment; Wemo makes home automation equipment, and Phyn sells a product that notifies you of water leaks in the house. 

SEE ALSO: Behold: The Bentley of iPhones

“Integrating Belkin’s best-in-class capabilities and solutions into FIT (Foxconn Interconnect Technology Limited, a subsidiary of Foxconn), we expect to enrich our portfolio of premium consumer products and accelerate our penetration into the smart home,” Sidney Lu, the CEO of FIT said in a statement.  Read more...

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