Cisco Said To Invest $1 Billion In Cloud Computing Services

Cisco Said To Invest $1 Billion In Cloud Computing Services(Ping! Zine Web Tech Magazine) – On Monday Cisco announced its plans to merge into cloud services by building “the world’s largest global Intercloud.”

According to a press release from the networking company, Cisco has plans to spend over $1 billion in the next two years to expand its Cisco Cloud Services.

“Companies are looking for different ways to get IT done,” said Cisco president of development and sales, Rob Lloyd to the Wall Street Journal. “Everybody is realizing the cloud can be a vehicle for achieving better economics [and] lower cost.”

As part of the “Internet of Everything” campaign, Cisco will be delivering the new service with its partners, including companies such as Telstra, Allstream, Canopy, Wipro Ltd., among others.

“Customers, providers and channel partners alike are turning to Cisco to create open and highly secure hybrid cloud environments, and they want to rapidly deploy valuable enterprise-class cloud experiences for key customers – all while mitigating the risk of capital investment,” added Lloyd. “The timing is right for Cisco and its partners to invest in a groundbreaking, application-centric global Intercloud to provide broader reach and faster time to market.”

Cisco’s Intercloud will allow companies and uses to move data and applications across public and private clouds easily and securely.