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Huawei, Symantec form security, storage JV

Posted: 24 May 2007 ?? ?Print Version ?Bookmark and Share

Keywords:joint venture? IP networks? security software?

Huawei Technologies Co. Ltd and Symantec Corp. announced they are forming a joint venture company that will develop and distribute security and storage appliances to global telecommunications carriers and enterprises.

Businesses around the world are building and maintaining IP networks and IT systems that support a growing number of connections. This requires balancing the increasing performance and availability requirements with system security and data integrity. The joint venture intends to help carriers and enterprises address this challenge by offering security and storage appliances that are easy to implement, maximizing value to customers. According to the IDC, the global security and storage appliance market is at $23 billion today, and the market in China is forecasted to exceed $1.1 billion.

"The partnership with Symantec is part of Huawei's All IP and FMC Fixed mobile convergence strategy. Network security will definitely form the foundation as telecom networks migrate toward an All IP environment," said Ren ZhengFei, CEO of Huawei. "The partnership will enable us not only to provide leading network security solutions to carriers, but also to deliver professional security and storage solutions to enterprises, helping our customers build a safer and more efficient network."

The new company will be headquartered in Chengdu, China, with Huawei owning 51 percent of the joint venture and Symantec 49 percent. The China company will contribute its telecommunications storage and security businesses including its integrated supply chain and integrated product development management practices.

The new company will have access to Huawei's IP licenses, R&D capabilities, manufacturing expertise and engineering talent, which includes more than 750 employees. Symantec will contribute its enterprise storage and security software licenses, working capital and management expertise. Symantec will also contribute $150 million toward the joint venture's growth and expansion.

"Huawei and Symantec agree that we need to constantly innovate and develop new solutions to keep pace with the evolving risks and increased availability requirements facing service providers and enterprise customers," said John W. Thompson, chairman and CEO, Symantec.

The joint venture is expected to close late in the calendar year, pending required regulatory and governmental approvals.

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