Cisco Invests US $32 Million in China Research and Development Center
Shanghai R&D Center to Focus on Product Development for the Service Provider Market
BEIJING, China, September 23, 2004 - Cisco Systems, Inc. (NASDAQ: CSCO), president and CEO John Chambers today announced the company's intent to open a research and development center in Shanghai, China. The new facility will represent an initial $32 million investment over the next five years, and Cisco expects to hire approximately 100 employees over the next 18 months to focus on research and development.
With the increased and sustained growth among China's service providers, the Shanghai research and development center illustrates Cisco's stated commitment to allocating resources across the globe to support growing customer demands.
Cisco's Shanghai research and development center will augment Cisco's ability to tailor its products and be more responsive to the changing customer demands of service providers in China, Asia and around the world.
Today's news underscores Cisco's continued commitment to investing in China and complements Cisco's global technology development effort. The research and development center in Shanghai is expected to open in Q3FY05.
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