Cisco to raise venture investment initiative by $100 million; ties up with Satyam, Wipro
By Our Corporate Bureau | 31 Oct 2007
Cisco has announced that it is increasing its venture investment initiative in India by $100 million, in addition to the initial $100 million earmarked in 2005 to drive growth with high-potential Indian companies. This is a part of its overall $1.1 billion investment plan for India,
Cisco says this venture investment in India is consistent with its track record of driving growth in the information technology (IT) market through investment in the innovation economy.
The announcement was made at the inauguration of Cisco's new globalisation centre in Bangalore yesterday at an opening ceremony presided over by former President Dr APJ Abdul Kalam and John Chambers, Cisco chairman and CEO.
The centre will showcase Cisco's latest technology solutions and provide an environment for closer collaboration with its partners to support customers in emerging markets such as India, China, the Middle East, Africa, Asia and Latin America.
As the first of several potential initiatives it is pursuing within the new $100 million investment goal, Cisco is collaborating with Satyam Computer Services to explore a new venture investment. This planned new venture will focus on optimising, deploying and managing integrated healthcare management solutions globally, bringing together the market reach, capabilities and experience of both Cisco and Satyam.
The two companies are collaborating to explore a new venture that will optimise, deploy and manage solutions for handling medical distress and health management solutions for global markets. The venture, in which Cisco has expressed a strategic intent to make a minority investment, is being pursued as part of its extended $100 million venture programme announced yesterday targeting Indian innovation.
