Cisco sells Linksys to Belkin

Belkin HQ Playa VistaPlaya Vista-based Belkin is to acquire Cisco’s Home Networking Business Unit, including its Linksys brand and employees.

With global operations, Linksys’ main office is located in Irvine, California. No financial details were disclosed about the deal. The transaction is expected to close in March 2013.

“We’re very excited about this announcement,” said Chet Pipkin, CEO of Belkin. “Our two organisations 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 realising that vision.”

Belkin intends to maintain the Linksys brand and will offer support for Linksys products as part of this transaction. After the transaction closes, Belkin will account for approximately 30% of the US retail home and small business networking market.

Last December, Cisco hired Barclays to sell the Linksys unit. Cisco wanted to sell Linksys as part of its strategy to exit consumer businesses while expanding in corporate software and technology services.