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wells fargo technology banking extends 1b line of credit

October 20, 2010 by · Leave a Comment 

Norton Antivirus Maker and Wells Fargo Pair Up for Economic Tag-Team Wrestling

(NYSE: WFC) Wells Fargo & Company, one of the largest commercial banks in the United States, has opened up a $1 billion dollar line of credit for Symantec, the creator of Norton Antivirus and associated Norton software. 

Wells Fargo & Company has announced that they are ambitious about their new focus on the technology industry and wish to pursue a long-time business partnership with Symantec as a primary client.

Symantec is reportedly using the $1 billion dollar line of credit for “general corporate purposes”, though it is speculated that much of this credit will be going towards the development of new server technology that Symantec will deploy worldwide, from which Wells Fargo & Company will mutually benefit. Wells Fargo & Co. uses Symantec-branded servers with top-notch security to store client banking information.

“Symantec is a forward-thinking technology corporation that places a high importance on nurturing strong customer relationships,” said Ben Hosgedo, spokesperson for the company.

Wells Fargo & Co. has embraced the deal with open arms after Symantec was listed as one of the most progressive technology corporations in a recent Forbes survey. 

Wells Fargo & Co. purportedly has good relationships with many technology corporations, but sees Symanetec as one of their strongest allies in the corportate world. 

“If not for Symantec’s amazing security and server technology, Wells Fargo would not be where we are today,” says Hosgedo proudly, “We look forward to expanding upon this relationship, nurturing it, and using it to benefit both of our companies for the better.”