3Com and Huawei Technologies secured the final approvals from the Chinese government to begin operations at their joint venture company. The new Huawei-3Com Co. Ltd. will sell enterprise networking solutions including routers and LAN switches. 3Com has the rights to market and support the Huawei-3Com products under the 3Com brand in all countries except China and Japan. In China and Japan, Huawei-3Com will sell products sourced internally as well as from 3Com.
The new company is composed of enterprise networking business assets, including LAN switches and routers, engineering and sales/marketing resources and personnel, and licenses to its related intellectual property. 3Com is contributing $160 million in cash, assets related to its operations in China and Japan, and licenses to certain intellectual property. In two years, 3Com has the right to acquire a majority ownership interest in Huawei-3Com.
The new Huawei-3Com is domiciled in Hong Kong, with principal operations in Hangzhou, China, and sales offices throughout China and Japan. The company has approximately 1,500 employees based in China and derived primarily from Huawei.
http://www.huawei-3com.com
http://www.3com.com
