Deloitte Corporate Finance LLC Advises Foxconn Interconnect Technology Ltd. on its Acquisition of Belkin International, Inc.
LOS ANGELES, Dec. 19, 2018 — Deloitte Corporate Finance LLC (Deloitte) acted as financial advisor to Taiwan-based Foxconn Interconnect Technology Ltd. (FIT), a leading manufacturer of electronic components, in its acquisition of Belkin International Inc. (Belkin), a Playa Vista, California-based manufacturer of consumer electronics. The transaction closed September 20, 2018.
FIT pursued the acquisition of Belkin as part of a broader strategy to expand its portfolio of premium consumer products, further develop consumer-focused brands, and accelerate its penetration into the smart home market. The acquisition is expected to drive transformational change across FIT’s portfolio of consumer brands.
Additionally, the deal will give FIT access to Belkin’s leading research and development capacity, as well as more than 700 patents.
“The acquisition of Belkin positions FIT as a global leader in mobile power, smart home and networking solutions,” said Chris Lu, Senior Advisor to the Chairman, Hon Hai Precision Industry Co., Ltd. “Belkin’s expertise in technological advancement coupled with Foxconn’s scale and production capabilities will allow us to grow into new markets that were not available to either party prior to the transaction.”
“This is a landmark deal for Foxconn Interconnect Technology, enabling the expansion of their consumer brand portfolio” said Kevan Flanigan, Managing Director, Deloitte Corporate Finance LLC. “We look forward to seeing the brands grow in the marketplace.”
About Foxconn Interconnect Technology Ltd.
A subsidiary of Hon Hai Precision Industry Co., Ltd., Foxconn Interconnect Technology Ltd. is a global leader in electronic and precision components manufacturing and distribution. FIT specializes in the development, manufacturing and marketing of consumer electronic products for applications in industries including computers, communication equipment, consumer electronics, automobiles, industrial and green energy field products. FIT’s global presence includes offices and manufacturing sites in Asia, the Americas and Europe. For more information about FIT, visit www.fit-foxconn.com.
About Belkin International, Inc.
Belkin International, Inc. is a leading manufacturer of a wide range of consumer electronics including smart home technologies, wireless networking products, and accessories for smartphones and tablets. Belkin is one of the largest consumer electronics manufacturers with more than 1,400 employees worldwide and products sold in more than 50 countries globally. Belkin’s portfolio of award-winning brands includes Belkin, Linksys, WeMo, and Phyn. For more information about Belkin, visit www.belkin.com.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC provides strategic advisory services and M&A advice that help corporate, entrepreneurial, and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. Deloitte Corporate Finance, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
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