Cisco to invest $545 mn in BrazilApril 4th, 2012 - 12:54 pm ICT by IANS
Rio de Janeiro, April 4 (IANS/EFE) US-based Cisco Systems, the world’s largest maker of networking equipment, said it planned to invest 1 billion reais (about $545 million) in Brazil over the next four years.
The money will be used to build a technology centre in Rio de Janeiro, expand manufacturing capacity in Brazil and other projects, Cisco Brasil chief Rodrigo Abreu said.
The innovation and technology centre will be constructed near the port in Rio de Janeiro, with completion of the project expected by the end of this year.
The centre will focus on developing information technology products and solutions for the sports, entertainment, security and oil industries, Cisco said.
The company is preparing for business it expects to be generated in Brazil by the 2014 World Cup and the 2016 Olympic Games in Rio de Janeiro.
“We expect it to be an innovation centre capable of becoming an ecosystem for the digital economy. The technology solutions will be specific for the Brazilian market,” Abreu said during a technology event in Rio.
Cisco plans to create a fund to spur the development of new Brazilian tech companies.
The networking giant expects to pump up to 50 million reais (about $27 million) into the fund, which will accept contributions from Brazilian partners.
Cisco’s investment plan calls, moreover, for creation of a project to form partnerships with Brazilian firms covering intellectual property in the IT area.
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