November 24, 2014
PLAYA VISTA, Calif. (AP) - Belkin, a maker of smartphone cases and computing accessories, said Thursday that it is buying the home networking business unit of Cisco, including the Linksys router brand.
Privately held Belkin, based in Playa Vista, Calif., did not disclose the purchase price, nor did Cisco Systems Inc.
Belkin intends to maintain the Linksys brand, as well as honor warranties on current and future Linksys products. The company said that after the acquisition, it will account for about 30 percent of the U.S. retail home and small-business networking market.
The transaction is expected to close in March.
Cisco shares fell 5 cents in after-hours trading to $20.97 following the announcement, after closing up 40 cents, or 1.9 percent, at $21.02 in the regular session.
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