The Way Business Is Moving published by
Issue Date: February 2008

Huawei and Symantec commence joint venture

14 February 2008

Symantec and Huawei Technologies have announced that they have commenced their joint venture, which was announced in May 2007. The new company will develop and distribute security and storage appliances to global telecommunications carriers and enterprises.
The joint venture company is headquartered in Chengdu, China, with Huawei owning 51% and Symantec owning 49%. John W. Thompson, chairman and chief executive officer of Symantec, has been named chairman of the Board and Ren ZhengFei, chief executive officer of Huawei, has been named chief executive officer. Huawei is licensing certain technology and Symantec is licensing certain storage and security software to the joint venture company. Symantec is also contributing US$150 million to the joint venture.

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