Huawei today announced the closure of a previously announced transaction where Huawei will acquire Symantec’s 49 percent stake in Huawei Symantec for USD 530 million. The transaction was closed on 30 March 2012 and Huawei now has full ownership of the previous joint venture.

Huawei and Symantec signed the agreement on 14 November 2011 after mutually agreeing that the next stage of growth for the joint venture would benefit from the direction of a single owner. Looking ahead, Huawei will continue to increase investment in Huawei Symantec, reaffirming its commitment to customers.