Skip to main content

Huawei

Huawei to buy out Symantec stake in joint venture

posted onNovember 15, 2011
by l33tdawg

Huawei plans to buy out Symantec's 49 percent stake in a joint venture between the companies that provides security solutions for corporations for $US530 million.

The agreement is subject to regulatory approval, but analysts and company executives foresee few hurdles as the joint venture is based in Hong Kong. The deal is expected to close in the first quarter of 2012, Huawei said in a statement on Tuesday.