Cisco, Wipro forge JV, eye $1bn revenue in 3 years
Networking giant Cisco and Indian IT services major Wipro have cemented their relationship further by forging a new alliance to address the global markets. Both companies expect the new venture to generate revenue of $1 billion in three years.
By TNN |
BANGALORE: Networking giant Cisco and Indian IT services major Wipro have cemented their relationship further by forging a new alliance to address the global markets. Both companies expect the new venture to generate revenue of $1 billion in three years.
Announcing this here on Wednesday, Cisco said, it would jointly develop IT solutions to meet the market requirements across the globe. Cisco CEO John Chambers said: “These are new ways of go-to-market strategy across the world.” Wipro Chairman Azim Premji described this alliance as ‘360 degree partnership.’
Under the agreement, Cisco and Wipro will together build new IT infrastructure service solutions, combining the former’s networking solutions with the latter’s infrastructure and managed services.
Wipro will offer solutions based on Cisco products and services on a global basis with initial focus on India, Middle East and Africa. Already, Wipro is partnering with Cisco for some of its projects in Saudi Arabia.
This alliance will also see Cisco setting up its competency centre, which will be operational in November, at Wipro’s campus in Bangalore.
Cisco has a long relationship with Wipro having. The two companies has a joint development centre.
Currently, Cisco’s business with Wipro is valued at around $300 million. Besides Wipro, the networking giant has joint development centres with Infosys, HCL Technologies, Satyam and Zensar.
Mr Chambers, who is on his fifth visit to India, has already committed long-term investments into the country. On Tuesday, Cisco announced the formation of a venture with Satyam for creating IT solutions in the healthcare sector. Besides these, Cisco has also unveiled a few prototypes of products for the emerging markets like rural IT kiosk and an ATM with video facilities. Mr Chambers said, “we are looking at using technology to connect rural areas.”
Cisco has also announced the launch of its I-Prize, a competition open to entrepreneurs and innovators around the world to identify new technologies for the emerging markets. The winning team will have the opportunity to join Cisco as founders of new emerging technology business unit. Depending on the value of the idea, Cisco may also invest up to $10 million over three years to fund the new business unit.
Announcing this here on Wednesday, Cisco said, it would jointly develop IT solutions to meet the market requirements across the globe. Cisco CEO John Chambers said: “These are new ways of go-to-market strategy across the world.” Wipro Chairman Azim Premji described this alliance as ‘360 degree partnership.’
Under the agreement, Cisco and Wipro will together build new IT infrastructure service solutions, combining the former’s networking solutions with the latter’s infrastructure and managed services.
Wipro will offer solutions based on Cisco products and services on a global basis with initial focus on India, Middle East and Africa. Already, Wipro is partnering with Cisco for some of its projects in Saudi Arabia.
This alliance will also see Cisco setting up its competency centre, which will be operational in November, at Wipro’s campus in Bangalore.
Cisco has a long relationship with Wipro having. The two companies has a joint development centre.
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Currently, Cisco’s business with Wipro is valued at around $300 million. Besides Wipro, the networking giant has joint development centres with Infosys, HCL Technologies, Satyam and Zensar.
Mr Chambers, who is on his fifth visit to India, has already committed long-term investments into the country. On Tuesday, Cisco announced the formation of a venture with Satyam for creating IT solutions in the healthcare sector. Besides these, Cisco has also unveiled a few prototypes of products for the emerging markets like rural IT kiosk and an ATM with video facilities. Mr Chambers said, “we are looking at using technology to connect rural areas.”
Cisco has also announced the launch of its I-Prize, a competition open to entrepreneurs and innovators around the world to identify new technologies for the emerging markets. The winning team will have the opportunity to join Cisco as founders of new emerging technology business unit. Depending on the value of the idea, Cisco may also invest up to $10 million over three years to fund the new business unit.
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