Cisco invests in $80M Chinese cloud

Will hold 20% stake in venture with TCL

Cisco is investing in the development of an $80 million cloud services platform with Chinese telecom vendor TCL.

The joint investment will see TCL and Cisco build a public cloud network delivering on-demand collaboration, online meeting, web conferencing, audio conferencing and videoconferencing applications.

Cisco will invest $16 million and hold a 20% stake. TCL will invest $64 million for an 80% stake.

Cisco recently injected another $1 billion into its Intercloud initiative to build a global cloud of interconnected providers. This is on top of the initial $1 billion invested in March.

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Jim Duffy has been covering technology for over 28 years, 23 at Network World. He covers enterprise networking infrastructure, including routers and switches. He also writes The Cisco Connection blog and can be reached on Twitter @Jim_Duffy and at jduffy@nww.com.

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