Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.

Huawei Technologies and Symantec to form joint venture

Posted on 26-May-2007 11:02 | Filed under: News


Symantec Corp. and Huawei Technologies Co., Ltd. are forming a joint venture company to develop and distribute security and storage appliances to global telecommunications carriers and enterprises.

The joint venture will help operators and enterprises address challenges arising from maintaining IP networks and IT systems that support a growing number of connections. This requires balancing increasing performance and availability requirements with system security and data integrity.

Initially the offering will include security and storage appliances addressing those issues. The new company will be headquartered in Chengdu, China, with Huawei owning 51 percent of the joint venture and Symantec owning 49 percent.

Huawei will contribute its telecommunications storage and security businesses including its integrated supply chain and integrated product development management practices. Additionally, the new company will have access to Huawei’s intellectual property (IP) licenses, research and development capabilities.

Symantec will contribute some of its enterprise storage and security software licenses, working capital, and its management expertise into the new company. Symantec will also contribute US$150 million toward the joint venture’s growth and expansion.

The joint venture is expected to close late in the calendar year, pending required regulatory and governmental approvals.