ZDNet — Western Digital and Tsinghua University-owned Unisplendour have extended their relationship and announced the creation of a joint venture company to sell Western Digital datacentre storage arrays in China. The unnamed business will be 51 percent owned by Unisplendour and its Unissoft subsidiary, with Western Digital holding the remaining 49 percent stake.
Unisplendour Corporation Limited, a subsidiary of Tsinghua Holdings, will acquire a 51% stake in H3C from Hewlett-Packard for at about USD2.3 billion. The transaction is expected to close at the end of 2015 and it is still subject to the approvals of Unisplendour’s board of directors and related government authorities. According to the agreement signed by the two parties, the new H3C includes H3C Technologies and HP’s China-based server, storage and technology services businesses, which are valued at about USD4.5 billion (net of cash and debt).