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VOL. 129 | NO. 58 | Tuesday, March 25, 2014

Cisco to Invest Over $1 Billion in Cloud Computing

AP

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NEW YORK (AP) — Cisco says it plans to spend more than $1 billion over the next two years to build up its cloud computing network.

Cisco plans to use the money to expand its data centers for the new service to be called Cisco Cloud Services.

The move makes the San Jose, Calif.-based networking company the latest to enter an arena that caters to the growing number of companies that would rather rent computing space than build their own.

One of the biggest players in the market is Amazon.com. IBM Corp. said in January that it will invest $1.2B in its cloud computing operations.

Cisco says it will work with a set of partners to build up the network. The company already provides cloud-related services, including the online conference provider WebEx.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 117 438 9,804
MORTGAGES 166 542 12,288
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 151 884 21,562
BANKRUPTCIES 59 272 7,608
BUSINESS LICENSES 24 116 3,428
UTILITY CONNECTIONS 119 501 11,780
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