A Hong-Kong based subsidiary, FIT Hon Teng, of Taiwan-based iPhone supplier Foxconn is looking to acquire Belkin, a well-known iPhone accessory maker.
Financial Times reports that the Foxconn subsidiary will be purchasing Belkin International for $866M. The announcement was made on Tuesday, and FIT will acquire Belking by way of a merger. The acquisition of Belkin includes Linksys, Phyn and Wemo.
FIT plans on creating a smart home business with Belkin, possibly creating products that work with HomeKit, as well as other smart home ecosystems such as Amazon’s Alexa or Google Home. With the merger, FIT will own all 700 of Belkin’s patents, which will help leverage FIT in the future.
Belkin has been well known in the Apple space, making various accessories for iPhone, iPad, and Macs, including cases, screen protectors, and even dongles for both the USB-C, and Lightning ecosystem of devices. The company recently announced a line of new wireless chargers for the iPhone 8, 8 Plus, and iPhone X that come in various options such as a dual charging pad.