TAIPEI -- A Foxconn subsidiary is acquiring Belkin for $866 million in cash.

Foxconn Interconnect Technology, the unit that makes connectors, antennas and cables, will widen its scope to include OEM products such as routers and networked devices.

Belkin CEO and founder Chet Pipkin reportedly will remain with the company.

The deal will likely need approval by the Committee on Foreign Investment in the United States.

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