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-   -   Cisco jumping into cloud computing, paying $1 billion to grow business (http://forums.macnn.com/113/tech-news/509158/cisco-jumping-into-cloud-computing-paying/)

 
NewsPoster Mar 24, 2014 12:00 PM
Cisco jumping into cloud computing, paying $1 billion to grow business
Networking company <a href="http://macnn.com/rd/306566==http://www.cisco.com" rel='nofollow'>Cisco</a> is commencing an initiative to enter the cloud computing industry. The giant has announced plans to launch Cisco Cloud Services, a program similar to Amazon's distributed offering, with a capital expenditure of $1 billion over the next two years.<br />
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The effort is expected to give the company a toe-hold in the market trend towards out-sourcing computing problems that require an intensive computer processing effort. The service will be delivered through partners including Ingram Micro, Australian provider Telstra, and Wipro.<br />
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The announcement has not had the effect that the company may have wanted on share price. In a market that has not seen much gain or loss on the day, shares are down to $21.52 per share from an opening of $21.68.
 
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