Cisco investment in KPMG

     

Cisco will invest more than $1 billion in consulting firm KPMG LLP to provide internet-based communication services. This transaction is expected to be finalised by September 1999, and will help both companies to exploit the emerging opportunities in web-based business services.

Cisco is a global leader in the networking equipment market. Various data networking and telecom equipment companies, are trying to build the next generation communications gear for voice, data and video transfer using Internet Protocol, which is the standard for transmission on the Internet. Cisco is one of them. Others include Lucent Technologies, Nortel Networks.

KPMG, the leading business consulting firm, feels that the demand for Internet-based communications is strong and growing. The firm will target this partnership at customers in Europe, Asia and Latin America.

Cisco will provide the hardware and the salespersons manning the six centres which provide services focussing on telecom and big business markets. KPMG will provide the support, services and software that will enable moving business functions like sales tracking and procurement on to the Web.