U.S. tech giant Hewlett Packard is going to sell a 51 percent stake in its China-based server business to Tsinghua Holdings for 2.3 billion U.S. dollars.
The deal creates a joint venture called H3C worth 4.5 billion U.S. dollars.
The new company will have 8-thousand employees and 3.1 billion U.S. dollars in annual revenue.
It will be the exclusive provider for HP's server, storage and networking services.
Meanwhile, HP says it will still fully own its existing China-based enterprise services, personal computer business, and other operations in China.