Chinese telecom equipment vendor Huawei has agreed to buy the 49% stake of US-based security software company Symantec in their Huawei Symantec Technologies joint venture.
Huawei will pay US$530m for the interest in the JV, based in Hong Kong, giving…
Chinese telecom equipment vendor Huawei has agreed to buy the 49% stake of US-based security software company Symantec in their Huawei Symantec Technologies joint venture.
Huawei will pay US$530m for the interest in the JV, based in Hong Kong, giving the company full ownership of the business.
Huawei Symantec, which was established in 2008, provides security, storage and management solutions.
In a statement, Guo Ping, Huawei deputy chairman, said: “The integration of Huawei Symantec’s innovative security and storage technology with Huawei’s enterprise will reinforce Huawei’s leading position in cloud computing.”
The deal is expected to close in the first quarter of 2012.
