Huawei Acquires Symantec for $530 Million

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Huawei Acquires Symantec for $530 Million Huawei Acquires Symantec for $530 MillionHuawei Acquires Symantec for $530 Million

 

21 November 2011

Huawei, Chinese telephone and networking equipment maker, has recently announced that the company had agreed to acquire Symantec, its Hong Kong joint-venture partner, for $530 million.
US officials has already demonstrated their concerns about security issues. The acquisition is expected to be completed in the Q1 2012.
The partnership between these two companies has never been profitable, and the agreement between them to acquire full ownership in other one - eventually. Symantec, a computer security software specialist, had been the more logical choice to sell its share of the security and storage products vendor, founded in 2008, as the JV is under the Huawei execs’ control in Hong Kong.
According to Bloomberg, “Intelligence officials told that long-standing concerns about Huawei's ties to the Chinese military and its Ministry of State Security could cause U.S. officials to examine the deal more closely.”
And Huawei’s officials deny any ties to the Chinese government or military.

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