Printed from http://www.electronista.com

Cisco jumping into cloud computing, paying $1 billion to grow business

updated 10:57 am EDT, Mon March 24, 2014

Capital investment intended to compete against Amazon, Microsoft

Networking company Cisco is commencing an initiative to enter the cloud computing industry. The giant has announced plans to launch Cisco Cloud Services, a program similar to Amazon's distributed offering, with a capital expenditure of $1 billion over the next two years.

The effort is expected to give the company a toe-hold in the market trend towards out-sourcing computing problems that require an intensive computer processing effort. The service will be delivered through partners including Ingram Micro, Australian provider Telstra, and Wipro.

The announcement has not had the effect that the company may have wanted on share price. In a market that has not seen much gain or loss on the day, shares are down to $21.52 per share from an opening of $21.68.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

ActvContent Sync Smartband

Smartbands of all sorts are hitting the market. Some build on the buzz around fitness trackers, while others offer simpler features fo ...

RocketStor 6324L Thunderbolt 2 eSATA bridge

Like it or not, the shift to Thunderbolt is underway. The connection is extremely flexible, allowing for video and data to co-habitate ...

Patriot Stellar Boost XT 64GB USB 3.0 drive

A vast selection of USB memory sticks means that consumers can often find exactly the size drive they need in a configuration that can ...

Sponsor

toggle

Most Commented

 
toggle

Popular News