Belkin has announced that it has entered into an agreement to acquire Cisco's home networking business unit, including its proven products, technology, well-known Linksys brand and talented employees.

"We're very excited about this announcement," said Chet Pipkin, CEO of Belkin.

"Our two organizations share many core beliefs - we have similar beginnings and share a passion for meeting the real needs of our customers through the strengths of an entrepreneurial culture. Belkin's ultimate goal is to be the global leader in the connected home and wireless networking space and this acquisition is an important step to realizing that vision," added Chet Pipkin.

Belkin intends to maintain the Linksys brand and will offer support for Linksys products as part of this transaction. All valid warranties will be honored by Belkin for current and future Linksys products.

After the transaction closes, Belkin will account for approximately 30 percent of the US retail home and small business networking market.