Cisco finally offloads Linksys
Rumors surfaced last year that Cisco was shopping for a buyer to offload the Linksys consumer networking arm it purchased years ago for $500 million. Belkin has announced today that it has signed a deal with Cisco that will see Linksys become a Belkin company.
The financial terms of the deal between Belkin and Cisco are undisclosed. Whether or not Cisco made its $500 million investment back remains to be seen. Belkin will continue to sell products under the Linksys brand and promises that it will honor all warranties for existing and future Linksys products.
Belkin gets the Linksys name, products, technology, and employees in the deal. Belkin also says that once the deal closes, the acquisition will give it about 30% of the consumer networking market. The deal is expected to close in March of 2013.