Cisco Systems, Inc. (NASDAQ:CSCO) has announced that it will be donating up to $100 million Euros to assist French startups with investment capital. The announcement was made by Frances Prime Minister Manuel Valls. The contribution is from a partnership the company has formed with the French and is intended to be used to develop stronger networks, cybersecurity and also provide fresh training to over 20k scientists and web professionals. The training will cover 3 years and also include finance research.
Beating The Competition
The company has weathered a spate of new competition and continues to etch itself as the leader in networking technology. The new French deal shows its willingness to assist other industry professionals with capital to advance training and infrastructure. This move will expand its reach in the region and also help brand it as a partner, rather than a competitor. Cisco Systems, Inc. (NASDAQ:CSCO) is looking to broaden its revenue generating capabilities and this is a good image building method to do so. Last earnings report they showed a 3% growth in sales in the region. This should help keep that momentum going.
The company had good earnings the last reporting cycle and showed strong revenue growth of 7% year over year, totaling $11.9 billion. It utilized a new campaign calling itself the Internet of Everything. They also acquired cyber-security firm Sourcefire. It also bought cloud service provider Intercloud. Intercloud connects clouds together creating a virtual cloud network. Cisco is the networking giant that provides internet solutions for other companies including education and product deployment. They have the biggest line of data, video and voice solutions for businesses, educational institutions and governments. Cisco Systems, Inc. (NASDAQ:CSCO) has branded itself as the leader in anything internet and its technologies have been the leader in its industry since the internet became a product that is accepted by the mainstream population.
The stock came off of a bearish double top and promptly exploded to its current high. This removed most of its technical issues and changed its status to healthy. The stock trades closely to its market, the NASDAQ. If the NASDAQ continues to be strong, Cisco Systems, Inc. (NASDAQ:CSCO) should follow right along.