Deals
Foxconn Unit to Buy Belkin for $866 Million in Brand Push
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FIT Hon Teng Ltd., part of the contract manufacturing giant Foxconn Technology Group, agreed to buy Belkin International Inc. in the latest move by billionaire Terry Gou to expand in branded goods.
FIT will pay $866 million in cash for Belkin, a maker of Wi-Fi routers, mobile device chargers and keyboards, the company said in a filing to the Hong Kong stock exchange on Tuesday. The deal will give it access to strong research and development capacity with Belkin owning more than 700 patents, it said.