(Yicai Global) Feb. 25 -- Chinese electronic equipment maker Lenovo Group has formed a joint venture with US hybrid cloud and data management firm NetApp.
The JV will help firms improve their information technology structure relying on both sides' high-performance data management technologies and superior products.
The new company is named Lenovo Lingtuo and Hong Kong-headquartered Lenovo and Sunnyvale, California-based NetApp have taken 51 percent and 49 percent shares, respectively, Lenovo said in the press release, adding the JV will have seven members on its board, four from Lenovo and three from NetApp, and Hong Kong management consulting firm Accenture's former Managing Director Eric Lu will serve as its first chief executive.
Lenovo has superior products in hyperscale data centers, high-performance computing and artificial intelligence, while NetApp is a top-ranking manufacturer in the world's flash memory market, Lenovo stated.
The JV will use technologies such as flash memory, storage and data management infrastructure to help firms improve their information technology structure and release their data potential.
It will also provide localized, autonomous and controllable solutions.
Editor: Ben Armour