Huawei accepts 3Com’s bid offer to purchase its stake in H3C

Published November 29th, 2006 - 07:31 GMT

Huawei, a leader in providing next generation telecommunications network solutions for operators around the world, today announced that it has accepted a bid offer from 3Com to purchase Huawei’s entire stake in their joint venture Huawei-3Com (“H3C”).

In accordance with H3C’s shareholders’ agreement, the bid process was initiated by 3Com on 15 November 2006 and a bid offer was accepted by Huawei on 28 November 2006(Beijing time). H3C will become wholly owned by 3Com after the completion of the transaction.

Guo Ping, Senior Vice President of Huawei Technologies said, “The divestment will further enable Huawei to focus its efforts on its core business, strengthen our leadership position in the ALL IP-based FMC (Fixed and Mobile Convergence) solutions market, and create long-term value and potential growth for our clients. Over the past three years, 3Com and Huawei have contributed a great deal to the development of H3C. H3C has become one of the leading global suppliers of IP networking products and solutions and we wish them every success in the future.”

Huawei will continue to comply with its commitments under the existing joint venture agreements.

Huawei-3Com is a leading IP networking vendor that aims to create maximum value for its global customers and partners by providing excellent service and a full range of quality networking products and solutions with a high performance to cost ratio.
Headquartered in Hong Kong, with research and development centres in China (Beijing, Hangzhou and Shenzhen) and India (Bangalore), the company employs more than 4,500 people (by end of Q2, 2006) with more than half engaged in R&D.

Additional information can be found at www.huawei-3com.com.

About Huawei Technologies Co., Ltd
Huawei Technologies Co., Ltd. (“Huawei”) is a leader in providing next generation telecommunications network solutions for operators around the world. The company is dedicated to providing innovative and customized products, services and solutions to create long-term value and potential growth for its customers. Huawei’s products and solutions are deployed in over 100 countries and serve 28 of the world’s top 50 operators, as well as over one billion users worldwide. For more information, please visit www.huawei.com.

 

 


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