Symantec Corp. (Nasdaq: SYMC) and Huawei Technologies Co., Ltd.
(Huawei) today announced that the two companies are forming a joint
venture company. The new company will develop and distribute
world-leading security and storage appliances to global
telecommunications carriers and enterprises.
Businesses around the world are building and maintaining IP networks
and IT systems that support a growing number of connections. This
requires balancing increasing performance and availability requirements
with system security and data integrity. The joint venture will help
carriers and enterprises effectively address these challenges by
offering security and storage appliances that are easy to implement and
maximize value to customers. According to IDC, the global security and
storage appliance market is $23 billion today, and the market in China
is forecast to exceed $1.1 billion.