Nanfang Daily News (reporter/Cheng) yesterday, Huawei (micro-blogging) Technology Co., Ltd. and Symantec announced that the two sides have reached an agreement with Huawei to acquire 530 million U.S. dollars for Symantec's 49% per cent stake in Huawei Symantec Technology Co. After the deal is completed, Huawei will fully hold 100% per cent of the Chinese equity stake. It is understood that Huayi is a joint venture company established in Hong Kong in 2008 by Huawei and Symantec, which offers innovative security, storage and Systems management solutions to its customers. It is understood that the transaction will be subject to the relevant government approval and other customary conditions, is expected to be completed in the first quarter of 2012. >> more
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