Cisco Systems puts worth $500 million for a three-year program to boost “digitization” of Germany.
The money will be used in Deutschland Digital scheme. It comprises of digitization projects, including research projects and Cisco’s Networking Academy, in which it aims to expand more from 35,000 German graduates a year to 80,000 for the following three years. There will be an investment as well in venture funds and infrastructure.
The general manager of Cisco Germany Oliver Tuszik said, digitizations – roughly, the computerization of processes is currently done manually - “gives you the ability to secure data, act on data and deliver value based on data.”
In 2015, a Cisco innovation center was launched and was called “openBerlin,” and according to Cisco, it will play a key role in the digitization push.
In order to progress digital know-how of non-IT professionals towards small to medium sized firms, Tuszik said, “We will massively expand our educational programs, both for young people and professionals,”
The company said a German privacy, including a data protection regulations over a software and cloud services will be implemented and a research initiative will be funded.
Furthermore, Cisco aims to establish a “Security Center of Excellence” in Germany. Their goal is to form an ecosystem of customers, including partners, academia, and startups over security-related challenges and how to resolve it. Moreover, the main focus is to find alternative solutions towards specific challenges within time bound.
Cisco comprises of digitization initiatives as well in countries such as France, UK, and Italy.
Cisco Spends Big Bucks
The CEO of Cisco Chuck Robbins said in statement, “Germany has long been known for its focus on innovation, and digitization opens up unprecedented opportunities for the country,”
However, it appears that this is the most recent in trend expenditures alone for the firm. Meanwhile, Cisco announced that it began funding about $150 million and will be utilized to invest firms that are able to build products and services on its Spark work-collaboration, including chat product.
The company acquired a small sized San Francisco startup named Synata. It primarily specializes data-searching tech. According to a blog post, the technology of the startups will be used to advance the search capabilities in Spark, thus, it will be easier for users to search for documents whether it is encrypted.
Furthermore, the networking giant talked about their plans of spending $260 million for a cloud computing startup called CliQr. Subsequently, Cisco also mentioned that they are also planning to spend another $380 million for an Israel-based chip fabrication company called Leaba Semiconductor.
Cisco also stated that they are not reluctant with their acquisitions, as about $60 billion is on hand alone in order to turn down deals. According to Robins, the tough technology market made its way to the public IPO markets being “effectively closed right now.” It suggests that the company is open for numbers of startup deals, compared to what it had last year.
German investments remained to string a global ventures that the company has made in the previous year.
In this case, the company decided to make an investment worth $10 billion in China, during a declined sales in the region in the month of June. The company then spends $1 billion investment in the United Kingdom for firms that specializes the well-known Internet of Things (Iot) – a concept of devices such as cars and factory machines that are set to be linked online.
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