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Foxconn to acquire Apple accessory maker Belkin for $866 million

March 27, 2018

Mergers and acquisitions have decimated the once-thriving Apple accessory industry over the past several years, but the latest deal is more positive than most: Taiwanese manufacturing giant Foxconn announced today that it is purchasing U.S.-based Belkin, one of the biggest names in the accessory business.

The $866 million all-cash deal will see Belkin merge with Foxconn Interconnect Technology (FIT), a Hong Kong-based Foxconn subsidiary that makes cables, antennas, and connectors. According to FIT, Belkin will operate separately under current CEO and cofounder Chet Pipkin, selling popular power, connectivity, and protective accessories under its own name, as well as continuing to offer WeMo, Linksys, and Phyn gear.

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