US
network equipment maker Cisco Systems plans to invest $100 million in
French start-ups, French Prime Minister Manuel Valls’ office said on
Monday.
The
investment is part of a partnership between the company and the French
state that aims to develop better networks, improve cybersecurity,
provide training 200,000 people over three years and finance academic
research.
“Lastly,
work to assist digital innovation will be undertaken thanks to a $100
million investment from Cisco in French startups,” said a statement from
Valls’ office after he met with the company’s CEO, John Chambers.
Last
year, networking giant Cisco had announced to invest USD one billion
(about Rs 6,200 crore) over the next two years to expand its cloud
business and build a “network of clouds” with partners to take on rivals
like IBM and Amazon.
Cisco
intends to build the world’s largest global “Intercloud” or a network
of clouds to capitalise on the growing trend of companies opting for
services rather than buying and maintaining own IT infrastructure.
Posted by : Gizmeon
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