3Com has agreed to buy out Huawei Technologies’ stake in a joint venture the two companies founded in 2003 to build networking equipment for enterprises.3Com said Tuesday it will pay US$882 million for Huawei’s 49 percent stake in Huawei-3Com. Earlier this year, 3Com assumed a majority ownership position in the company.Huawei-3Com has its headquarters in Hong Kong, but its primary base of operations is in Hangzhou, China. No details were given on when the transaction is expected to close, but it is subject to approval from the Chinese government. Huawei-3Com employs just under 5,000 people and is valued at about $1.8 billion, based on the rate that 3Com plans to pay for Huawei’s stake. Last year it sold nearly 2 million switches and routers worldwide, according to the company’s website.-Robert McMillan, IDG News Service (San Francisco Bureau) Related Link: 3Com Releases Enterprise VoIP PhoneCheck out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content BrandPost The future of trust—no more playing catch up Broadcom: 2023 Tech Trends That Transform IT By Eric Chien, Director of Security Response, Symantec Enterprise Division, Broadcom Mar 31, 2023 5 mins Security BrandPost TCS gives Blackhawk Network an edge with Microsoft Cloud In this case study, Blackhawk Network’s Cara Renfroe joins Tata Consultancy Services’ Rakesh Kumar and Microsoft’s Nilendu Pattanaik to explain how TCS transformed the gift card company’s customer engagement and global operati By Tata Consultancy Services Mar 31, 2023 1 min Financial Services Industry Cloud Computing IT Leadership BrandPost How TCS pioneered the ‘borderless workspace’ with Microsoft 365 Microsoft’s modern workplace solution proved a perfect fit for improving productivity and collaboration, while maintaining security of systems and data. By Tata Consultancy Services Mar 31, 2023 1 min Financial Services Industry Microsoft Cloud Computing BrandPost Supply chain decarbonization: The missing link to net zero By improving the quality of global supply chain data, enterprises can better measure their true carbon footprint and make progress toward a net-zero business ecosystem. By Tata Consultancy Services Mar 31, 2023 2 mins Retail Industry Supply Chain Green IT Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe