Huawei Technologies Co.Ltd., recently said they are open to the idea of building partnerships with experienced companies so they can produce cloud computing software.
Cloud computing is the newest network technology which stores apps, online software and data on remotely located servers to make them accessible over the web.
At present, various global technology companies like Cisco Systems Inc. and Oracle Corp are all acquiring other companies to increase their cloud computing capabilities.
Huawei's IT hardware product line's Chief Technology Officer, Li Sanqi, said, "Huawei is a private company, so our acquisitions won't be for huge amounts like other listed companies," as reported by Reuters.
From the company's base in Shenzhen, southern China, Sanqi added that, "I feel that we will have acquisitions in the cloud and ICT (information and communications technology) arenas. We are searching, but we'll be careful in the United States for political reasons."
Market research firm IDC said the fast growing cloud computing sector is expected to touch $3.2 billion in 2011 in Asia only, which was $1.87 billion a year before. The same firm predicted that globally the cloud market might reach $55 billion by 2014.