Huawei Acquires JV with Symantec for 530 Million USD

2011/12/16

On November 25, Huawei reached an agreement with the U.S. Symantec Company on paying 530 million U.S. dollars for 49% of their joint venture (JV) Huawei Symantec's shares and all patent rights.


The combination of Huawei Symantec's cloud computing, network security and storage technologies with Huawei information technology would maintain its leading position in cloud computing technologies, according to Huawei. Huawei Symantec was co-founded by Huawei and the U.S. Symantec Company and was incorporated in Hong Kong in 2008, Huawei owns the share of 51%. After four years' operation, Huawei Symantec has established some R&D centers in China. As of now, Huawei Symantec has filed nearly 1,000 Chinese patent applications in cloud computing, network security, storage technologies and other fields, 762 of which were granted. 

 

Source:China IP News