Huawei to Acquire Symantec Stake
Huawei Technologies Co. Ltd. of Shenzhen, China, and Symantec Corp. of Mountain View, Calif., have agreed on a transaction in which Huawei will acquire Symantec’s 49 percent stake in Huawei Symantec Technologies Co. Ltd. for $530 million. The contract will give Huawei full ownership of Huawei Symantec, a Hong Kong-based joint venture established by Huawei and Symantec in 2008. The company provides security, storage and systems management solutions. The deal is subject to regulatory approvals and other customary closing conditions and is expected to close in the first quarter of 2012.
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