March 25, 2014
Cisco Invests $1 Billion To Build Global Intercloud
redOrbit Staff & Wire Reports - Your Universe Online
The San Jose, Calif.-based equipment maker said the two-year initiative to expand its cloud business would position the company to capture the enormous value of the Internet of Everything.
“It’s not about one cloud, no matter how large, but it’s about how to distribute the capacity and the intelligence to deal with connecting billions of things and trillions of events,” wrote Fabio Gori, Cisco’s director of worldwide cloud marketing.
“When it comes to people, processes and data that – along with things – form the Internet of Everything, new Data Sovereignty requirements make the goal of building one cloud to address all those requirements virtually impossible…until today!”
Cisco said it expects the Internet of Everything to be a $19 trillion economic opportunity in the coming decade, in terms of technology and services.
“The Internet of Everything movement, which is creating an entirely new set of requirements for globally distributed and highly secure clouds, has empowered Cisco and its partners to initiate the development of a massively scalable, flexible and highly secure Intercloud to deliver the mobile, collaborative and rich video cloud services that enable today’s new connected experiences,” the company said in its announcement.
Partners in the new venture include Australian service provider Telstra, Canadian business communications provider Allstream, European cloud company Canopy, IT outsourcing firm Wipro of India, cloud services aggregator, provider and wholesale technology distributor Ingram Micro, and others.
“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,” said Robert Lloyd, Cisco’s president of development and sales.
Cisco’s latest venture means the company will be up against other cloud providers that offer corporate services, such as Amazon, whose web services currently lead the public-cloud market.