Update: Huawei-Symantec JV is Here
Aggregated Source: Catching Mice in China
February 5, 2008|
Pacific Epoch reports:
Symantec Corp. (Nasdaq: SYMC) and Chinese telecom equipment manufacturer Huawei jointly announced the establishment of their security and storage appliance joint venture in Chengdu on February 5, reports jrj.com.cn. Huawei CEO Ren Zhengfei will serve as president of the joint venture while Symantec chairman and CEO John W. Thompson will serve as chairman. Huawei holds a 51 percent stake in the new company while Symantec holds the remaining stake. The companies announced plans to form the joint venture in May, 2007.
The joint venture is meant to focus on security and storage solutions for telecoms providers and enterprises.
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