Welcome to our dedicated page for Cisco Systems news (Ticker: CSCO), a resource for investors and traders seeking the latest updates and insights on Cisco Systems stock.
Cisco Systems, Inc., commonly known as Cisco (NASDAQ: CSCO), is a leading American multinational digital communications technology conglomerate headquartered in San Jose, California. Cisco is the world's largest provider of networking equipment and one of the top software companies globally.
The company's core business revolves around selling networking hardware and software, including leading market shares in these sectors. Cisco is also a prominent player in cybersecurity with products like firewalls, and offers collaboration tools such as the Webex suite. Additionally, Cisco provides observability tools to enhance network visibility and performance.
Recent achievements underscore Cisco's commitment to innovation and sustainability. For instance, the Cisco Foundation is actively working on environmental protection projects in the Amazon Basin, highlighting the company's dedication to Corporate Social Responsibility (CSR). Cisco is also at the forefront of AI and data security, unveiling groundbreaking solutions like Cisco Hypershield to protect modern workloads across various platforms.
Cisco is investing heavily in emerging technologies. The company recently launched a $1B AI investment fund to support the startup ecosystem and advance AI solutions, reflecting Cisco's strategic focus on innovation and customer needs in the AI era.
Financially, Cisco continues to perform robustly with substantial investments in R&D, strategic acquisitions, and partnerships. In Q3 FY 2024, Cisco reported revenue of $12.7 billion, demonstrating resilience and adaptability in a dynamic market environment. The acquisition of Splunk, a leading data platform, further strengthens Cisco’s product portfolio and market position.
With a workforce of 80,000 employees across 90 countries, Cisco's global reach is vast. The company outsources its manufacturing but maintains a substantial sales and marketing team to drive global sales. Key partnerships with tech giants like NVIDIA further bolster Cisco's capabilities in AI and cybersecurity.
Overall, Cisco Systems, Inc. is a powerhouse in digital communications, continuously innovating to meet the evolving needs of its customers while maintaining a strong commitment to sustainability and corporate responsibility.
Cisco has announced the launch of Duo passwordless authentication, which allows users to securely log into cloud applications without needing passwords. This feature, part of Cisco's zero trust platform, enhances security by using security keys or biometrics. Available for public preview in summer 2021 and general availability by year-end, this innovation aims to eliminate the risks associated with password management, reducing IT support costs and boosting productivity. The solution integrates with existing authentication systems, thus facilitating a smoother transition for enterprises.
SAN JOSE, Calif., March 22, 2021 – Cisco's Accelerating Digital Agility Research highlights the core priorities for IT success, with a focus on security, collaboration, and the cloud. Key findings reveal that 56% of IT decision makers are investing in cloud applications and network security, while 89% prioritize maintaining security across distributed workforces. Additionally, 73% have adopted 'as a Service' solutions to enhance user experience. The survey reflects a global perspective, gathering insights from over 23,000 IT leaders across 34 markets.
Cisco appointed Marianna Tessel to its board of directors effective March 5, 2021. Tessel brings extensive leadership experience in technology and software, previously serving as CTO at Intuit and holding key positions at Docker and VMware. Her appointment expands Cisco's board to 11 members. Tessel's background in software solutions is expected to align with Cisco's strategy for enhancing customer support as businesses navigate digital transformations.
Cisco announced the preview launch of a new real-time translation feature for Webex, allowing translations from English to over 100 languages. This innovation aims to enhance collaboration in a global workforce, eliminating language barriers. Existing support expanded from 10+ languages to a wide range including Arabic, French, and Spanish. The feature also offers businesses significant cost savings, replacing third-party translation services, which average $172 per meeting. The full rollout is expected in May 2021.
Cisco has successfully completed its acquisition of Acacia Communications for $4.5 billion, following approval from Acacia's shareholders. The acquisition, priced at $115.00 per share, aims to bolster Cisco's Internet for the Future strategy by enhancing its coherent optical solutions. Cisco is committed to supporting Acacia's existing and future customers, which are crucial for meeting the growing demand for data across webscale companies, service providers, and data centers. Acacia will now operate under Cisco's Optics business.
Cisco will participate in the 2021 Morgan Stanley Technology, Media and Telecom Investor Conference on March 3, 2021, at 2:00 p.m. PT. The session, featuring Todd Nightingale, Senior VP and GM of Enterprise Networking and Cloud, will be webcasted for interested parties. Details can be found on Cisco's Investor Relations website. Cisco, a leader in technology that powers the Internet, continues to engage with the financial community to discuss its strategic direction and innovations.
AppDynamics, a Cisco company, released its global research study titled Agents of Transformation 2021: The Rise of Full-Stack Observability, highlighting the impact of rapid digital transformation due to COVID-19. The study shows a 3X acceleration in digital projects, with 89% of technologists feeling under pressure. Key challenges include technology sprawl (78%) and disconnected monitoring solutions (74%). The report emphasizes the need for full-stack observability to link IT performance with business outcomes, with 92% of respondents deeming this linkage crucial for innovation.
Cisco has been recognized as the 2020 Asia-Pacific Email Security Vendor of the Year by Frost & Sullivan, holding a 16.8% market share in the region. Its success is attributed to its comprehensive email security solutions, particularly the Cisco Email Security product, which effectively blocks and detects threats. Cisco's Talos threat intelligence enhances its offerings by providing critical insights into cyber threats, and its data loss prevention features ensure compliance with regulations. The award highlights Cisco's customer focus and continuous evolution in the email security market.
Cisco has successfully completed the acquisition of IMImobile PLC for approximately $730 million, paying 595 pence per share. This acquisition enhances Cisco's Webex Contact Center, allowing for a comprehensive Customer Experience as a Service (CXaaS) offering. IMImobile's cloud communications solutions will enable businesses to provide seamless interactions with customers across multiple digital channels, meeting rising customer expectations for better experiences.
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