Huawei has accepted a bid offer from 3Com to purchase its 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. 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.
www.huawei.com