Tsinghua, a Chinese information technology and communications company under the Tsinghua University, agreed to acquire the remaining 49% stake in New H3C Technologies, China-based joint venture, from Hewlett Packard, a multinational information technology company, for $3.5bn. Hewlett Packard is one step closer to pulling out from its China-based information technology equipment joint venture New H3C Technologies, after Chinese partner Tsinghua Unisplendour announced a plan to acquire its remaining 49% stake in the unit.