Cisco today unloaded their consumer networking business to Belkin today:
“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.
I find it interesting that after having bought Linksys in 2003 and making a serious attempt at the home market, Cisco is now selling this unit. The two companies will work together in the future on projects though. So they aren’t giving up on this market completely. Another thing, Cisco paid $500 million for Linksys. I’m guessing they sold it for way less than that.
This will be worth watching.
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This entry was posted on January 24, 2013 at 9:41 pm and is filed under Commentary with tags Belkin, Cisco, Linksys. You can follow any responses to this entry through the RSS 2.0 feed.
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Cisco Sells Consumer Networking Business To Belkin
Cisco today unloaded their consumer networking business to Belkin today:
“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.
I find it interesting that after having bought Linksys in 2003 and making a serious attempt at the home market, Cisco is now selling this unit. The two companies will work together in the future on projects though. So they aren’t giving up on this market completely. Another thing, Cisco paid $500 million for Linksys. I’m guessing they sold it for way less than that.
This will be worth watching.
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This entry was posted on January 24, 2013 at 9:41 pm and is filed under Commentary with tags Belkin, Cisco, Linksys. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.