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Belkin to buy Linksys router maker from Cisco

Published on NewsOK Modified: January 24, 2013 at 5:09 pm •  Published: January 24, 2013
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Hilton Romanski, vice president of corporate business development for Cisco, said in a blog post Thursday that Belkin and Cisco will continue to have a strategic relationship in dealing with service providers.

"We are confident that we have found the best buyer in Belkin," he said. "We look forward to witnessing Belkin's growth as they bring Linksys into their family."

Belkin CEO Chet Pipkin said the company's ultimate goal is to be "the global leader in the connected home and wireless networking space," saying this acquisition was an important step.

Cisco shares fell 5 cents in after-hours trading to $20.97 following the announcement, after closing up 40 cents, about 2 percent, at $21.02 in the regular session.