Huawei-3Com venture get the green light

3Com corporation and Huawei Technologies today announced that all government approvals have been secured for their joint venture.

Huawei Technologies is a telecommunications company headquartered in Shenzhen, China with sales last year of $2.268bn in 40 different countries including France, Germany, UK and Russia.

3Com have the rights to market and support the Huawei-3Com products under the 3Com name in all countries except China and Japan.

In China and Japan,Huawei-3Com will sell products sourced internally as well as from 3Com.

Huawei is bringing to the deal its enterprise networking business assets, including LAN switches and routers, engineering and marketing resources and licences to its related intellectual property.

3Com is contributing $160m in cash, assets related to its operations in China and Japan, and licenses to certain intellectual property.

In September, 3Com announced the closure of its manufacturing facility in Blanchardstown in north county Dublin by February next, with the loss of 600 jobs.