Cisco Sells Linksys to Belkin International
The times, they are a-changing'. First we bring you news that Lenovo is looking to possibly buy RIM's hardware division
, and now Belkin International is buying Linksys for an undisclosed amount of money. The agreement that Belkin is entering into with Cisco Systems (Linksys's parent company) is one in which the two companies will cooperate on software, service-provider products, and other things. Belkin hopes to build a relationship with Cisco revolving around retail distribution and marketing.
Belkin announced via press release that they'll be keeping the Linksys brand alive and they will honor exisitng warranties, which is good news for Linksys customers who may have feared otherwise when they heard of the acquisition.
Belkin CEO Chet Pipkin has stated that Belkin's goal is the be the "global leader in the connected home and wireless networking space." Purchasing Linksys will certainly help them get there.
via PC World