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Huawei to Acquire Symantec Stake in Joint Venture

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MOUNTAIN VIEW, Calif., and SHENZHEN, China, Nov. 16, 2011 — Huawei Technologies Co. Ltd. and Symantec Corp. have agreed on a transaction in which Huawei will acquire Symantec’s 49 percent stake in Huawei Symantec Technologies Co. Ltd. (Huawei Symantec) for $530 million. Upon closing, the contract will give Huawei full ownership of Huawei Symantec. 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. Huawei and Symantec have mutually agreed that the next stage of growth for the joint venture would benefit from the direction of...Read full article

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    Published: November 2011
    AmericasAsia-PacificBusinessCaliforniaChinadefensefiber opticsHuaweiHuawei SymantecHuawei TechnologiesICTinformation and communication technologysecurity systemsstorage systemsSymantecsystems management

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