LONDON, UK -- June 18, 1999 -- Reuters has appointed Cisco Systems as its primary global vendor for Internet technology networks furthering the existing strategic alliance between the two companies.
Reuters plans to take advantage of Cisco's leadership in policy-based and directory-enabled networking. By adopting a common Cisco standard across all IP networks, Reuters will accelerate the use of Internet technologies and reduce network operational costs.
Through this partnership, Reuters and Cisco will work together on the evolution of Internet protocols. Cisco will leverage the experience Reuters has developed over years of building some of the world's largest, most reliable and secure networks while Reuters will have early access to the advanced Internet technologies developed by Cisco.
Cisco is a minority shareholder in Tibco Software, Inc., the Reuters subsidiary that develops software for corporate networks. Together, Cisco and Tibco Software, Inc. provide network services that help their customers to deliver real time information to large communities of users over the Internet. Cisco also has a long term relationship with Reuters subsidiary, Instinet, the world's largest electronic agency broker.
David Ure, Reuters Executive Director, said, "Internet technology has created significant market opportunities for Reuters. Cisco is a market leader providing best-in-class IP solutions which we will leverage in the rationalisation of Reuters network infrastructures."
John Chambers, president and CEO of Cisco, said, "This is a great opportunity for Cisco to assist Reuters as their industry becomes increasingly fast-paced and technology-dependent. We are committed to helping Reuters gain the maximum benefits the new Internet economy brings.
"Further investing in networking and the Internet is a positive step for Reuters and is the result of the explosive growth in the number of web-based applications in the financial arena."
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