Huawei buys Symantec at security-joint venture

Huawei acquires Symantec stake in the joint venture of both for more than a half billion dollars. The electronics manufacturer and the security company have since 2008 a joint venture in network security.

Huawei and Symantec have argued in recent months conversations about the future of the joint venture. The companies argued that it is better as a single owner, the company will lead. Although the competition authorities the acquisition is still to goedgekeuren, is the acquisition expected to close by early next year around. Until that time, keep Symantec and Huawei, the current cooperation is in position, as stated in a statement.

Symantec currently owns a stake of 49 percent in the company. With the buyouts of the security company will get the Chinese Huawei, which, among other smartphones, the available security and technologies. “The acquisition strengthens the position of Huawei in cloud computing,” says director Guo Ping. Huawei continues to say that the portfolio of the joint venture in China to strengthen. It is not yet known under what name that’s going to happen; perhaps Huawei Symantec on paper intact.

The buy-out of Symantec with 530 million dollars does not mean that Symantec final from China disappears. The company remains on the Asian market. Currently, Huawei Symantec’s offices in Silicon Valley and Beijing.