Symantec forms JV with Huawei
Symantec is teaming up with Chinese networking firm Huawei to provide security and storage solutions for telecommunications firms.
Symantec is teaming up with Chinese networking firm Huawei to provide security and storage solutions for telecommunications carriers and enterprises.
The two firms said this week they have agreed to form a joint venture company that will develop and distribute security and storage appliances to help businesses support and maintain their internet protocol (IP) networks and systems.
Citing data from market research firm IDC, the companies said this is a market worth US$23billion globally, with the Chinese market alone forecast to exceed US$1.1billion.
“Huawei and Symantec agree that we need to constantly innovate and develop new solutions to keep pace with the evolving risks and increased availability requirements facing service providers and enterprise customers,” said John W. Thompson, chairman and chief executive officer, Symantec. “Huawei’s world-class product development and manufacturing capabilities joined with Symantec’s leading edge security and storage software technologies will offer unique solutions that will give customers more confidence that their systems are secure and available.”
The new company will be headquartered in Chengdu, China, with Huawei owning 51% and Symantec the remainder. Symantec will contribute some of its storage and security software licences and will provide US$150 million in funding.
Additionally, the new company will have access to Huawei’s intellectual property (IP) licenses, research and development capabilities, manufacturing expertise and engineering talent, which includes more than 750 employees, the firms said.
Ren ZhengFei, chief executive officer, Huawei, said the partnership was part of Huawei’s All IP and FMC Fixed mobile convergence strategy. “Network security will definitely form the foundation as telecom networks migrate toward an All IP environment,” he said.