Huawei to fully acquire Symantec stake in joint venture
November 22, 2011 | BY
clpstaff &clp articlesIn a transaction valued at US$530 million, Huawei Technologies (Huawei) has acquired a 49% stake in Huawei Symantec Technologies (JVCO).Established in…
In a transaction valued at US$530 million, Huawei Technologies (Huawei) has acquired a 49% stake in Huawei Symantec Technologies (JVCO).
Established in 2008, JVCO is 49% owned by Symantec and 51% by Huawei. Once the deal is completed, Huawei will have full ownership of JVCO.
Ling Huang, a Beijing-based Shearman & Sterling partner, is leading the legal team advising Huawei. Huawei's local counsel was Tian Yuan Law Firm. O'Melveny & Myers acted for Symantec as its international counsel, while its PRC adviser was Fangda Partners.
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