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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