Tuesday, December 12, 2006

Cisco Invests $50M in China Communications Services

Cisco has made a strategic investment of US$50 million in China Communications Services Corporation Limited (CCS). Under the deal, Cisco and CCS will jointly provide managed telecommunications services, such as network operation and administration, to enterprise customers in China. Additionally, the two companies will provide customers with new network solutions, including IP infrastructures, digital video, and 3G platforms and applications.

CCS is the specialized telecommunications support businesses arm of a major telecommunications group in China. CCS has been reorganized and spun-off to form a separate independent entity, with China Telecom Group, China Mobile and China Unicom also as shareholders. The company is publicly traded on the main board of the Hong Kong Stock Exchange with the ticker 0552.hk.