In 2006, Cisco launched TelePresence, a video conferencing development designed to allow people from different locations to interact as if they were in the same place. Cisco`s networking expertise has made the company a leading provider of products for the Internet of Things, a concept often cited at Cisco. Chambers retired in 2015 as the company increasingly focused on hardware but software. The logo is intended to represent the two towers of the Golden Gate Bridge. [19] On the more traditional business side, Cisco continued to expand its routing, switching, and security portfolio. The growing importance of Ethernet has also influenced the company`s product lines. The limitations of IOS and the aging Crescendo architecture have also forced Cisco to consider standard silicon in the carrier Ethernet segment. This resulted in a new ASR 9000 product family designed to consolidate the company`s carrier Ethernet and subscriber management business around EZChip and IOS-XR-based hardware. [23] Cisco was officially founded in California on December 10, 1984 and went public on February 16, 1990.
NASDAQ NM: CSCO (common shares). Chuck Robbins is Cisco`s Chief Executive Officer with 73,711 employees in Q4 2016 and revenue of $12.6 billion at the end of fiscal 2016. In Nigeria, Olakunle Oloruntimehin is General Manager +/- 45 employees at Cisco Nigeria. On June 28, 2016, Cisco announced plans to acquire CloudLock, a private cloud security company founded in 2011 by three IDF veterans,[119] for $293 million. [120] The transaction was expected to close in the first quarter of 2017. In 1985, Bosack and Stanford employee Kirk Lougheed launched a project to formally network the Stanford campus. [15] They adapted Yeager`s software into what became the basis of Cisco IOS, despite Yeager`s claims that it had been denied permission to sell the Blue Box commercially. On July 11, 1986, Bosack and Lougheed were forced to resign from Stanford, and the university considered filing criminal charges against Cisco and its founders for stealing its software, hardware designs, and other intellectual property rights.
[15] In 1987, Stanford licensed the router software and two computer cards to Cisco. [15] In addition to Bosack, Lerner, Lougheed, Greg Satz (a programmer) and Richard Troiano (who took over sales) completed the first Cisco team. [15] The company`s first CEO was Bill Graves, who held this position from 1987 to 1988. [17] In 1988, John Morgridge was appointed CEO. [18] In 2019, Cisco acquired CloudCherry, a customer experience management company, and Voicea, an artificial intelligence company. [63] [64] [65] Cisco celebrated its 20th anniversary as a public company this week. And what an adventure it was for Cisco shareholders. For example, the average Cisco employee experienced inventory growth of more than $250,000 in 1999. In addition, Cisco made it the most valuable company in the world with a market capitalization of $569 billion on March 27, 2000.
Let`s take a little trip back in time. 1990 On May 1, 2018, Cisco Systems agreed to buy AI-based business intelligence startup Accompanied for $270 million. [60] [61] As of June 2018, Cisco Systems ranked 444th on the Forbes Global 2000 list with a market capitalization of $221.3 billion. [62] Cisco acquired various companies to bring products and talent to the company. In 1995-1996, the company made 11 acquisitions. [83] Several acquisitions, such as Stratacom,[84] were one of the largest transactions in the industry when they took place. [85] During the Internet boom in 1999, the company acquired Cerent Corporation, a startup based in Petaluma, California, for about $7 billion. [86] This was Cisco`s most expensive acquisition to date, and only the Scientific Atlanta acquisition was larger. [87] In 1999, Cisco also acquired a $1 billion stake in KPMG Consulting to facilitate the creation of the Internet company Metrius, founded by Keyur Patel de Fuse. [88] Several acquired companies became $1 billion business units.
USD+ developed for Cisco, including LAN switching, Webex Enterprise Voice over Internet Protocol (VOIP) platform, and home networks. The latter came as a result of Cisco`s acquisition of Linksys in 2003 and was completed in 2010 by a new product line called Cisco Valet. Cisco continued to face competition from domestic rivals Alcatel-Lucent, Juniper Networks and foreign rival Huawei. Due to lower-than-expected earnings in 2011, Cisco reduced annual spending by $1 billion. The company cut about 3,000 employees with an early retirement program who agreed to a buyout and planned to cut up to 10,000 jobs (about 14% of the total of 73,400 employees before the cut). [37] [38] At the 2011 analyst meeting, Cisco CEO John Chambers named several competitors,[39] including Juniper and HP. $17 million In October 2015, Cisco announced that it would acquire Lancope, a threat detection company, for $452.5 million in a cash and equity transaction. [118] Between 1992 and 1994, Cisco acquired several Ethernet switching companies, such as Kalpana,[24] Grand Junction,[25] and, most notably, Mario Mazzola`s Crescendo Communications,[26] which together formed the Catalyst business unit. At the time, the company envisioned Layer 3 routing and Layer 2 switching (Ethernet, Token Ring) as complementary functions of different intelligence and architecture – the former was slow and complex, the latter was fast but simple.
This philosophy dominated the company`s product lines in the 1990s. [23] In January 2013, Cisco Systems acquired Israeli software maker Intucell for approximately $475 million in cash to expand its mobile network management offering. [105] [106] In the same month, Cisco Systems acquired Cognitive Security, a company focused on protecting against cyber threats. Cisco also acquired SolveDirect (cloud services)[107] in March 2013 and Ubiquisys (mobile software) in April 2013. On December 11, 2008, the Free Software Foundation filed a lawsuit against Cisco for failing to comply with the GPL and LGPL license models and for failing to make the source code publicly available. [165] On May 20, 2009, Cisco settled this claim by complying with the FSF`s licensing conditions and making a financial contribution to the FSF. [166] Cisco products, including IP phones and telepresence, have been featured in films and television series. [156] The company was featured in the documentary Something Ventured, which premiered in 2011. [157] Cisco Systems, Inc. is engaged in the development and distribution of a number of technologies that power the Internet.
The company integrates its platforms in networking, security, collaboration, applications, and cloud. The company operates in three geographic segments: the Americas; Europe, Middle East and Africa (EMEA) and Asia-Pacific, Japan and China (APJC). The company`s product categories include secure and agile networks; Internet for the future; Cooperation; End-to-end security; Streamlined application experiences; Other Products and Services. Secure, Agile Networks consists of its core network technologies for switching, enterprise routing, wireless products, and compute. Internet for the Future consists of its routed optical networks, fifth-generation (5G) public offerings, silicon and optics. Collaboration includes collaboration devices, meetings, calls, and contact center offers. End-to-end security includes general security offerings.
