Cisco Systems, Inc.(NASDAQ:CSCO) Announces Toronto as Innovation Centre


Dallas, Texas 03/06/2014 (FINANCIALSTRENDS) – Cisco Systems, Inc. (NASDAQ:CSCO) announced it has selected Toronto as one of their global Cisco Internet of Everything Innovation (IoE). The other Innovation centers are Songdo , Rio de Janeiro  and Germany.  The company plans to invest around $100 million dollars for next 10 years. Also, to continue expanding their base in Canada, it is investing around $4 billion on Setting up around 10 innovation centers in Canada. The company also plans to create around 17k new jobs in the region.

Cisco Systems, Inc.(NASDAQ:CSCO) To be Part of CableLabs IPTV Innovations Lab

CISCO announced it will be supporting CableLabs plans to create a new IPTV Innovations Lab in Louisville, Colorado. The company will supply core IP infrastructure for the all-IP related solutions testing. IPTV Innovations Lab will facilitate service providers to expand their IP video business and develop most advanced standards in cable industry.

Cisco Business Expansion

Cisco completed its acquisition of WhipTail Technologies, Inc, and Insieme Networks, Inc to enhance their Unified Computing System, mobile workforce and data center and cloud solution. With the production of advanced enterprise Wi-Fi access points in Brazil, the company also expanded its footprint in the region. In the 2014 World Economic Forum Annual Meeting in Davos, the company also announced they have plans to invest in a large scale in Mexico by investing around $1.35 billion.

Cisco Systems, Inc. (NASDAQ:CSCO) second quarter highlights

Cisco which is part of 500 large companies listed in NYSE and NASDAC with a market cap of 115.78B reported 8% dip in their Q2 revenue and $0.27 GAAP; $0.47 non-GAAP. Quarterly dividend of $0.19 per common share was announced. This is 2 cent increase compared to previous quarter’s dividend. All the shared holders who are on the record as of April 3, 2014 are eligible. During second quarter of fiscal 2014, cash flows from operations were around $2.9 billion. And the cash and its equivalent were reported as $47.1 billion during the 2nd fiscal quarter.