Mahindra Group and Cisco Systems today said that they had entered into a strategic alliance, which allows for collaboration on a global platform between the two companies and provision of cloud computing services.
Under the agreement the two companies would collaborate on go-to-market strategies in areas that include smart cities, virtual dealership, sports and entertainment, and cloud services.
The joint venture has set an ambitious target market of $5 billion in 5 years.
Anand Mahindra, vice-chairman and managing director, Mahindra Group, said, ''By collaborating with Cisco to build smarter, connected communities, virtual dealerships and other projects, we are empowering our stakeholders – dealers, customers, partners and others to use technology for the greater good, thereby enabling them to rise.
I am absolutely delighted that the first project under this initiative is intended to be the Mahindra Innovation Park.''
Mahindra added, "The JV will provide cloud computing services and will involve M&M group across geographies."