The company will be bought over for $866 million.
Foxconn, who is known as one of the main suppliers of Apple’s iPhone hardware is set to purchase Belkin for $866 million. Belkin also owns Linksys, Phyn and Wemo which will also be included in the sale.
The purchase was made by FIT Hon Teng, the Hong Kong-based subsidiary of Foxconn which is based in Taiwan.
FIT said that it is planning to create a new smart home business that includes making new devices that will work across other home ecosystems like Apple HomeKit, Google Home or Amazon Alexa.
When the acquisition is complete, FIT will now own more than 700 of Belkin’s patents.