Wednesday, September 23, 2015

Cisco Forms $100 Million Joint Venture with China's Inspur

Cisco and Inspur (浪潮), a leader server and super computing company based in China, agreed to set up a joint-venture in China to sell networking technologies and products, build world-class information technologies and solutions, and deliver other advanced technologies and services in areas including IT infrastructure, cloud, data center, smart cities, and big data.


The companies will invest an initial US$100 million in the joint venture.

The announcement comes during President Xi Jingping's first state visit to the United States.

Earlier this year, Cisco said it would invest US$10 billion in China to support local innovation and the country's ongoing technology transformation.

In a blog post, Cisco'c CEO Chuck Robbins writes "I’m optimistic that working with Inspur will add to the recent momentum that we’ve seen in our business in China. Today, China represents approximately 3% of our business, and being the world’s second largest economy, we see the potential to increase this considerably over time. Our fiscal Q4 results in China were more encouraging than any quarter over the past two years. During my June visit, we had incredibly constructive discussions with customers and key ministries that were focused on our ability to deliver customer solutions that only our unique partnership capabilities can bring."

http://blogs.cisco.com/news/cisco-and-china-a-long-term-view

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