The announcement came on Monday and the new company will be headquartered in Chengdu, China, with Huawei owning 51 percent and Symantec 49 percent stake, according to a press release.

Businesses around the world are building and maintaining IP (internet protocol) networks and IT systems that support a growing number of connections. This requires balancing increasing performance and availability requirements with system security and data integrity. The joint venture will help carriers and enterprises effectively address these challenges by offering security and storage appliances, the release added.