In a move that reinforces its repositioning away from low-margin, low-influence networking and IT markets, Cisco (NASDAQ: CSCO) has just announced the pending sale of its Home Networking Business Unit (mostly Linksys) to Belkin, a private company based in Playa Vista, Calif.

Cisco will keep a few fingers in the pie, however; the official release states that “Belkin and Cisco intend to develop a strategic relationship on a variety of initiatives including retail distribution, strategic marketing and products for the service provider market.”

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