Feeds

Huawei buys Symantec JV stake for $530m

You can go your own way

Secure remote control for conventional and virtual desktops

Huawei is buying Symantec's 49 per cent share in their joint venture for $530m.

The two companies teamed up in 2008 to sell security and storage technologies but it has become common knowledge in recent months that their Hong-Kong headquarted JV was to be dissolved or bought by one or the other partner. Symantec wanted to learn about appliances and enter the Chinese market. Huawei needed help in penetrating Western markets. Both missions have been accomplished.

We can speculate that Huawei wanted to control its own destiny in the USA and other JV markets rather more than Symantec wanted to control its own China market destiny. But then Huawei plays a long, long game and is not subject to the short-term quarterly earnings pressures of western companies.

The companies are confident they can progress in their target markets well enough on their own. Whether Huawei will rebrand Huawei Symantec is not specified in the two company's joint statement but we expect it will, and that Huawei will then sell IT products into the somewhat xenophobic US market, at least where China is concerned, on its own.

The agreement is subject to regulatory approvals and other customary closing conditions and is expected to close in the first quarter of 2012. ®

New hybrid storage solutions

More from The Register

next story
Quit drooling, fanbois - haven't you SEEN what the iPhone 6 costs?
How keen will buyers be when exposed to the real price?
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Ex-Autonomy execs: HP's latest wad blows apart fraud allegations
Top bods claim IT titan's latest court filing is smoking gun of 'reckless aggression'
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Elon Musk says Tesla's stock price is too high ... welp, NOT ANY MORE
As Nevada throws the SpaceX supremo a $1.25bn bone
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.