Monday, November 14, 2011

Huawei Acquires Symantec Stake in Joint Venture

Huawei Technologies acquire Symantec's 49 percent stake in Huawei Symantec Technologies Co., Ltd. for US$530 million. The deal makes Huawei the sole owner.


Huawei Symantec is a Hong Kong-based joint venture established by Huawei and Symantec in 2008.The company provides security, storage and systems management solutions. It holds more than 900 patents in important network security and storage technologies.


"I am thrilled that Huawei Symantec will become a key pillar of Huawei's ICT solutions. The integration of Huawei Symantec's innovative security and storage technology with Huawei's enterprise products will reinforce Huawei's leading position in cloud computing," said Guo Ping, Deputy Chairman of Huawei. "Huawei Symantec has achieved tremendous success in the past four years, having built a portfolio of products and solutions that are widely recognized by our customers and business partners. Looking ahead, Huawei will continue to increase investment in Huawei Symantec." http://www.huawei.com http://www.huaweisymantec.com

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