Cisco has made a strategic investment of $50 million in China Communications Services
Corporation Limited (CCS). CCS is the specialized telecommunications support businesses arm of a major telecommunications group in China.
Under the terms of the agreement, Cisco and CCS will jointly provide managed telecommunications services, such as network operation and administration, to enterprise customers in China. Additionally, the two companies will provide customers with new network solutions, including IP infrastructures, digital video, and 3G platforms and applications.
Li Ping, chief executive officer of CCS, said, "We are pleased to be working with Cisco to bring advanced telecommunications services to enterprise customers in China. This is an exciting time for CCS as we plan to capitalize on the growing demand of high value-added voice and data supporting services across the country. We expect Cisco will play an important role in helping us realize our plan."
Owen Chan, senior vice president of Asia Pacific business, Cisco, stated, "China is an extremely important market for Cisco, and in cooperation with CCS, we intend to help make China one of the most connected countries in the world. By working with CCS, we hope to help Chinese businesses adopt and deploy new productivity-enhancing communications services."
Ned Hooper, vice president of corporate business development at Cisco, explained, "Cisco is proud that its venture capital funding is helping to build a new generation of entrepreneurial companies in China. The further development of publicly traded companies in China will create lasting value because the company, its profits, its intellectual property and its constellation of suppliers and partners are all rooted in the local economy."
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