Belkin Announces Intent to Acquire Cisco’s Home Networking Business Unit

  Belkin Announces Intent to Acquire Cisco’s Home Networking Business Unit

Acquisition to Bolster Belkin’s Position in the Home Networking Market,
Building on the Strong Linksys Brand and Innovative Suite of Product and
Software Solutions

Business Wire

PLAYA VISTA, Calif. -- January 24, 2013

Belkin, a private company based in Playa Vista, Calif., with operations and
sales in more than 100 countries, today announced that it has entered into an
agreement to acquire Cisco’s Home Networking Business Unit, including its
proven products, technology, well-known Linksys brand and talented employees.
With global operations, Linksys’ main office is located in Irvine, Calif.

“We’re very excited about this announcement,” said Chet Pipkin, CEO of Belkin.
“Our two organizations share many core beliefs – we have similar beginnings
and share a passion for meeting the real needs of our customers through the
strengths of an entrepreneurial culture. Belkin’s ultimate goal is to be the
global leader in the connected home and wireless networking space and this
acquisition is an important step to realizing that vision.”

Belkin intends to maintain the Linksys brand and will offer support for
Linksys products as part of this transaction. All valid warranties will be
honored by Belkin for current and future Linksys products. After the
transaction closes, Belkin will account for approximately 30 percent of the
U.S. retail home and small business networking market.

“Linksys pioneered wireless connectivity capability around the globe, and has
a strong brand renowned for its premium market position, the strength of its
installed base and its proven dependability. Linksys users benefit from peace
of mind in their home networking environment. At Belkin we have developed
great insight into consumer needs, and the experiences, solutions and products
we bring to the market, including our WeMo home automation platform, will help
us to grow Linksys’ market presence,” Pipkin said.

“Linksys is one of the leading home networking providers and has created a
market-leading suite of products and services to meet customer needs,” said
Hilton Romanski, VP Corporate Business Development, Cisco. “While part of
Cisco, Linksys has continuously innovated, while strengthening the brand and
expanding its market leadership. As part of Cisco’s commitment to service
providers, we are pleased about this strategic relationship with Belkin to
build on Linksys’ position of strength.”

”With complementary innovation and engineering strategies in the combined
organization, Belkin will be able to create new opportunities for consumers,
distribution partners and resellers, and will have the strongest retail
presence in the U.S. networking marketplace. Belkin also will have access to a
large installed base that will be able to upgrade their networking environment
to take advantage of new technologies in the smartphone, tablet, notebook and
home automation arenas,” Pipkin said. “Additionally, Linksys will enhance
Belkin’s capabilities to meet the needs of the service provider space and
small business users.”

Belkin and Cisco intend to develop a strategic relationship on a variety of
initiatives including retail distribution, strategic marketing and products
for the service provider market. Having access to Cisco’s specialized software
solutions across all of Belkin’s product lines will bring a more seamless 
user experience for customers. Merging the innovation capabilities of Linksys
and Belkin provides a powerful platform from which to develop the next
generation of home networking technology.

“At Belkin, we’re committed to enabling great experiences for users of today’s
mobile and connected home technologies,” Pipkin said. “The acquisition of
Linksys and the combination of Belkin’s and Linksys’ expertise and innovation
will position us to meet the demands of today’s rapidly evolving advances in
technology. We look forward to honoring the heritage of the Linksys brand and
investing in the continuing evolution of its product portfolio. Together, we
will provide a powerful, simple to use, and reliable wireless and networking
platform for the markets we serve.”

Specific financial terms of the transaction are undisclosed. The transaction
is subject to various standard closing conditions and is expected to close in
March 2013.

About Belkin International, Inc.

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Media Contacts:
Debbie Etchison, 212-203-2886
Rachel Jones-Pittier, 310-906-6416
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