Today, Belkin announced its intent to acquire Cisco's Home Networking Business Unit and its leading brand, Linksys. With this agreement, we are pleased to preserve the strong Linksys brand and create a win-win relationship in the market.
Linksys is a strong and enduring brand with a talented team that has helped revolutionize the way we experience the world from our homes through a wide range of home routing and networking solutions with innovative software features that enable anytime, anywhere access and control of the home network and its connected devices.
Combined, Belkin and Linksys will create a world-class consumer networking technology provider with complementary innovation and engineering strategies. Linksys will enhance Belkin's capabilities to meet the needs of OEMs, as well as provide access to a large user base. Belkin and Cisco intend to pursue a strategic relationship focused on a variety of initiatives including retail distribution, strategic marketing and products for the service provider market.
Linksys has long been an important member of the Cisco family and we are confident that we have found the best buyer in Belkin. We look forward to witnessing Belkin's growth as they bring Linksys into their family.