Cisco invests in Asia, anticipating growth market.(Board Buyers)(Brief Article)

CircuiTree, December, 2004

San Jose, CA -- Cisco is targeting the networking growth market of Asia with significant investments, including $32 million over the next five years for a Chinese research center located in Shanghai, the launch of a venture capital firm in India, and the establishment of new financing services for small and medium-sized business customers in Korea.

Cisco will hire 100 employees over the next 18 months in the Shanghai facility, which will open in the second half of 2005. "By being closer to potential customers, it will help our engineers understand their requirements and react more quickly to their needs," he said (source: CMP).