U.S.-based Symantec and Shenzhen's Huawei Technologies will set up a China-based JV to develop and distribute security and storage appliances to global telecoms carriers.
Symantec, which specialises in anti-virus software, will inject USD150m
and license storage and security software for the joint venture, with
Huawei licensing undisclosed technology solutions. The joint venture
will be headquartered in Chengdu, and Huawei will hold a controlling 51
per cent of the JV company.
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