Huawei to fully own "Huawei Symantec" security venture

Huawei Symantec, formed in 2008 is joint venture of Huawei and Symantec focussing on network security and storage solutions for enterprises, with R&D centres in Beijing, Shenzhen, Chengdu, and Hangzhou in China and Silicon Valley and their solutions are deployed by over 1000 key customers in 40 countries.

Huawei has announced today that they are going to acquire 49% share held by Symantec, for $530 million (pending regulatory approval). After the deal is closed, Huawei will be the sole owner of this venture.

“I am thrilled that Huawei Symantec will become a key pillar of Huawei’s ICT solutions. The integration of Huawei Symantec’s innovative security and storage technology with Huawei’s enterprise products will reinforce Huawei’s leading position in cloud computing,” said Guo Ping, Deputy Chairman of Huawei. “Huawei Symantec has achieved tremendous success in the past four years, having built a portfolio of products and solutions that are widely recognized by our customers and business partners. Looking ahead, Huawei will continue to increase investment in Huawei Symantec, reaffirming its commitment to customers.”