Network Computing is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

  1. Home
  2. Networking
  3. 3Com Seeks Control Of Joint Venture With Huawei
Networking

3Com Seeks Control Of Joint Venture With Huawei

The Massachusetts-based firm owns 49 percent of the venture and hopes to acquire 2 percent more.
April 21, 2005

3Com Corp. is seeking to gain majority control over its Huawei-3Com joint venture with China's Huawei Technologies. The Massachusetts-based firm currently owns 49 percent of the venture and hopes to acquire 2 percent more.

3Com's chief executive Bruce Clafin is also the chairman of the board of directors of the Hong Kong-based joint venture. The combine also has facilities in Hangzhou, China, and markets products in China and Japan as well as other countries.

3Com has said it initially invested $160 million in the joint venture, which, according to the Dow Jones news service, reported a net loss of $14.5 million on revenue of $216 million for the nine-month period ending Dec. 31.

The Chinese government will have to approve the deal before it can be consummated.

Tags:

News
Networking