Cisco, Inspur forming tech joint venture
Chinese cloud-computing and bigdata services provider Inspur Group and US technology multinational Cisco Systems Inc have formed a joint venture, Inspur Chairman Sun Pishu said on Wednesday. With an initial investment of $100 million, the JV will develop internet technology serving business areas including information infrastructure, cloud computing, smart cities and metadata. Inspur will take a 51 percent stake in the JV and Cisco 49 percent. Inspur provides IT products and services in more than 50 countries and regions.