Symantec and Huawei Technologies Co, Ltd. (Huawei) announced in Bangalore on Tuesday that they are forming a joint venture company. The new company will develop and distribute world-leading security and storage appliances to global telecommunications carriers and enterprises.

Businesses around the world are building and maintaining IP 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 new company will be headquartered in Chengdu, China, with Huawei owning 51 percent of the joint venture and Symantec owning 49 percent.