Cisco Will Invest Over $570 Million In Brazil

Posted on Apr 4 2012 - 7:19am by Editorial Staff

The networking giant Cisco has announced its plans to invest US$574 million (R$1 billion) in Brazil. The company will be opening a Cisco center of innovation in Rio de Janeiro, a venture capital fund for Brazil-focused ICT and digital startups, the expansion of the local manufacturing program it started in 2011, and partnerships with local companies.

Cisco wishes to continue benefiting from Brazil’s growth. The company also wishes to contribute to this ongoing transformation and foster it. Cisco Brazil’s president Rodrigo Abreu explains: “We believe in the transformative role which information and communications technology can play in the sustained development of a country and the economic inclusion of its population and companies.”

(Image Source: Cisco logo, Featured Image)

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.