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| Cisco to raise venture investment initiative by $100 million; ties up with Satyam, Wipro news |
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Our Corporate Bureau
31 October 2007 |
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Cisco has announced that it is increasing its venture investment initiative in India by $100 million, in addition to the initial $100 million earmarked in 2005 to drive growth with high-potential Indian companies. This is a part of its overall $1.1 billion investment plan for India,
Cisco says this venture investment in India is consistent with its track record of driving growth in the information technology (IT) market through investment in the innovation economy.
The announcement was made at the inauguration of Cisco's new globalisation centre in Bangalore yesterday at an opening ceremony presided over by former President Dr APJ Abdul Kalam and John Chambers, Cisco chairman and CEO.
The centre will showcase Cisco's latest technology solutions and provide an environment for closer collaboration with its partners to support customers in emerging markets such as India, China, the Middle East, Africa, Asia and Latin America.
As the first of several potential initiatives it is pursuing within the new $100 million investment goal, Cisco is collaborating with Satyam Computer Services to explore a new venture investment. This planned new venture will focus on optimising, deploying and managing integrated healthcare management solutions globally, bringing together the market reach, capabilities and experience of both Cisco and Satyam.
The two companies are collaborating to explore a new venture that will optimise, deploy and manage solutions for handling medical distress and health management solutions for global markets. The venture, in which Cisco has expressed a strategic intent to make a minority investment, is being pursued as part of its extended $100 million venture programme announced yesterday targeting Indian innovation.
The announcement was made today by John Chambers, chairman and CEO of Cisco, and B Ramalinga Raju, chairman and founder of Satyam, during the inauguration of Cisco's Globalisation Centre East campus in Bangalore.
Over the years, Satyam has developed expertise in integrated health solutions and has developed a health IT framework, 'Distress to Discharge' with proven implementation methodologies.
In this services-led solutions-oriented architecture, Cisco's technologies will work in an integrated way with Satyam's processes and Software Application to support this important service.
"Cisco is committed to maximising purposeful social impact by using technology as an enabler and platform for positive change," said Wim Elfrink, executive vice president and chief globalisation officer, Cisco. "The collaboration that we are announcing with Satyam today will serve as a globally replicable model for handling integrated health solutions that can be implemented across emerging markets. This network-centric model has the potential to play a major role in transforming the way countries deliver healthcare services to citizens."
Cisco to build IT infrastructure services offerings with Wipro
In another tie-up, Cisco and Wipro Ltd have entered into an alliance to jointly develop and deliver information technology (IT) service solutions to help both companies meet their customers' needs, particularly in fast-growing markets around the world.
The two will together build new IT infrastructure service solutions that incorporate the intelligent-networking technology and services in business processes and IT of the two companies.
They have established a Cisco solution centre at the Wipro Campus in Bangalore, which will develop and showcase new services and solutions, such as Cisco unified communications, that will take advantage of the network platform to help enterprise customers drive innovation and business growth.
Over the years, Wipro, and Cisco have collaborated to add value to HDFC Bank's network strategy.
"This strategic alliance illustrates Cisco's commitment to building relationships with new partners in emerging parts of the world that will take advantage of new virtualised approaches such as 'software as a service', and service-oriented network architectures," said Elfrink.
In the future, Cisco and Wipro will collaborate to develop innovative solutions that support specific vertical industry models such as health care, financial services, retail, real estate and transportation.
Suresh Vaswani, president, Wipro Infotech, said, "The pervasiveness and intelligence of the network is the key to driving IT innovation. This alliance brings together Cisco's industry-leading network solutions and Wipro's vertical expertise, quality standards and global presence to deliver innovative new solutions to our customers. We are excited by the possibility of combining the strengths of Cisco and Wipro to deliver unique value to our customers."
Now that Cisco is the global network platform and networking solutions partner for Wipro, Cisco is able to expand on its worldwide market leadership. Additionally, Cisco will be able to take advantage of Wipro's world class services and business process re-engineering expertise to seize new growth opportunities in the areas of remote services delivery.
Steve Steinhilber, vice president of strategic alliances, Cisco, said, "Wipro offers a unique approach for delivering service solutions based on infrastructure and combined with Cisco's innovation in making the network the platform we know we will help meet customers' needs around the world."
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