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Cisco to Invest $1B to Create World’s Biggest Cloud Network

24/03/2014 by

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Cisco announced Monday, with a set of partners, it plans to construct the world’s biggest cloud network as the firm looks to take advantage of the growing market for Internet-based services.

The blue-chip company said the new venture is designed for the Internet of Everything, “with a distributed network and security architecture designed for high-value application workloads, real-time analytics, ‘near infinite’ scalability, and full compliance with local data sovereignty laws.”

Cisco said it plans to put $1 billion into this new cloud business over the next two years as it partners with other companies that have either planned to deliver Cisco Cloud Services or have already endorsed the initiative. Those companies include Australian service provider Telstra, Canadian business communications provider Allstrea, European cloud company Canopy, OnX Managed Services, and others.

This article has been extracted from http://www.foxbusiness.com, please click on this link to read the article in full http://www.foxbusiness.com/industries/2014/03/24/cisco-to-invest-1b-to-create-worlds-biggest-cloud-network/

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