Cisco Commits $1 Billion to UK

▤ Summary

Cisco (NASDAQ: CSCO) has just announced a series of strategic commitments in the UK that will total over US $1Billion over the next three to five years.This second significant round of activity in the UK follows the $500m commitment made by the corporation in 2011, which has contributed in excess of $5bn in technology and manpower to the UK economy through initiatives such as the British Innovation Gateway (BIG) that helps to foster and nurture UK innovation and entrepreneurship.In addition, corporate investments will also accelerate innovation in cybersecurity solutions while capital will be made available for further strategic acquisitions in the country.In addition, Cisco will also further its UK-based networking academy education program to promote innovation and entrepreneurship and support the UK government’s desire to redress the country’s North-South economic imbalance, with the addition of new centres of expertise, funded university collaborations, skills investments and expansion of apprenticeship programs.Finally, the company intends to expand further, doubling its Central London presence with the addition of a new office before the end of 2015, and the creation of over 200 new jobs.

▦ Linked Companies

Cisco

$1B+