Thursday, April 27, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
BlackBerry KeyOne KEYone Android Smartphone Launching Next Month
Apple Pay, Samsung Pay and Android Pay Set To Expand This Year
CyberLink Introduces MakeupDirector 2
Nintendo's Switch Console To Double Company's Full-year Profit
LG Electronics Sees 10 Percent Jump in Sales and Highest Operating Income Since 2009
Samsung's Profit At 3-year high Thanks to Strong Memory Chip Sales
FCC Proposes to Roll Back Regulation of the Internet
Twitter's Revenue Drops Despite User Growth
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Huawei ...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, November 15, 2011
Huawei Acquires Symantec's Stake In JV


Huawei Technologies Co., Ltd. and Symantec Corp. today announced an agreement on a transaction where Huawei will acquire Symantec's 49 percent stake in Huawei Symantec Technologies Co., Ltd. for USD 530 million. Upon closing, the agreement 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 a single owner.

"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."

"Symantec achieved the objectives we set four years ago and exited the joint venture with a good return on our investment, increased penetration into China and a growing appliance business," said Enrique Salem, president and chief executive officer, Symantec. "Today, China is one of Symantec's fastest growing markets. It has grown 46 percent over the last three fiscal years. We remain committed to ongoing investment in China as well as building additional relationships in the region. Expertise gained from this endeavor has also led to our growing appliance business that provides our customers the additional choice of Symantec market leading security and storage software in an easy to deploy appliance."

The agreement is subject to regulatory approvals and other customary closing conditions and is expected to close in the first quarter of 2012.


Previous
Next
LG Adds Features To Optimus 3D With Gingerbread Upgrade        All News        INCJ, Hitachi, Sony To Merge Their Small- and Medium-Sized Display Businesses
RealPlayer Goes Social     General Computing News      Security Updates And Windows 8 Restarts

Get RSS feed Easy Print E-Mail this Message

Related News
Huawei Regains Smartphone Lead in China: Canalys
HUAWEI WATCH 2 Comes with 10 Free Weeks of Google Play Music
Honor 8 Pro Unveiled, Bringing Kirin 960 And A 5.7-inch QHD
High Spending On Smartphone Business Lowered Huawei's Profits
MWC: Huawei Launches New HUAWEI P10 and P10+ Smartphones, Watch 2 Smartwatches
Huawei Is Developing Voice Assistant for Its Smartphones
Huawei, ZTE Sued for AVC Patent Infringement
Oppo Leads The Chinese Smartphone Market
Huawei Mate 9 Smartphone Lands in the U.S.
Huawei Honor 6x Released At CES
Huawei Achieves Breakthrough In Graphene-assisted High Temperature Li-ion Batteries
Chinese Companies Eye Investments In OLED Panels

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .