[ET Net News Agency, 27 March 2018] FIT Hon Teng (06088) said it agreed to acquire
Belkin International, Inc. by way of merger of its subsidiary Beluga Merger Sub, Inc. with
and into Belkin International, with Belkin International surviving the merger as a direct
wholly-owned subsidiary of FIT Hon Teng for US$866 million.
Belkin International is a company incorporated under the laws of the State of Delaware,
the USA. Belkin International, together with its subsidiaries, is principally engaged as a
supplier of services and solutions addressing mobile device and desktop connectivity,
protection, mobility, Internet access, power, and networking for the consumer, small and
medium business (SMB), education and government marketplaces.
FIT Hon Teng believes the Merger will afford its channel relationships, retail presence,
and direct-to-consumer opportunities that had been previously underdeveloped within its
manufacturing organization. It also expects synergies to be achieved from the merger
through mutual leverage of customer channels and sales networks as well as technological
and production capabilities. FIT Hon Teng also expects that the establishment of a new
"smart home" business by combining the existing Linksys and Wemo businesses and related
assets of Belkin International and similar "smart home" assets of the company and its
affiliates after the merger will further strengthen the Group's market leading position in
the global interconnect solutions industry. (HL)