Cisco Makes Strategic Investment in China Communications Services.Cisco Invests $50M and Signs an Agreement to Develop Joint Customers with CCS (1) (Common Channel Signaling) A communications system in which one channel is used for signaling and different channels are used for voice/data transmission. Signaling System 7 (SS7) is a CCS system, also known as CCS7. See SS7. BEIJING, China & SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. -- Cisco (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ) today announced that it has made a strategic investment of US$50 million in China Communications Services Corporation Limited (CCS). Cisco is the largest foreign strategic investor in CCS. CCS is the specialized telecommunications support businesses arm of a major telecommunications group in China. CCS has been reorganized and spun-off to form a separate independent entity, with China Telecom Group, China Mobile and China Unicom China Unicom, full name China United Telecommunications Corporation, 中国联通, HKSE: 0762 NYSE: CHU, is a telecommunication operator in the People's Republic of China. 52. also as shareholders. CCS is now publicly traded on the main board of the Hong Kong Stock Exchange The Hong Kong Stock Exchange (Traditional Chinese: 香港交易所, also 港交所; abbreviated as HKEX; HKSE: 0388 ) is the stock exchange of Hong Kong. with the ticker 0552.hk. Under the terms of the agreement, Cisco and CCS will jointly provide managed telecommunications services, such as network operation and administration, to enterprise customers in China. Additionally, the two companies will provide customers with new network solutions, including IP infrastructures, digital video, and 3G platforms and applications. "We are pleased to be working with Cisco to bring advanced telecommunications services to enterprise customers in China," said Li Ping Li Ping (李萍) is a fictional character in The Legend of the Condor Heroes, a novel written by Chinese author Jinyong. She is the mother of Guo Jing (郭靖) in Jinyong's novel. , Chief Executive Officer of CCS. "This is an exciting time for CCS as we plan to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the growing demand of high value-added voice and data supporting services across the country. We expect Cisco will play an important role in helping us realize our plan." "China is an extremely important market for Cisco, and in cooperation with CCS, we intend to help make China one of the most connected countries in the world," said Owen Chan, senior vice president of Cisco's Asia Pacific business. "By working with CCS, we hope to help Chinese businesses adopt and deploy new productivity-enhancing communications services." Today's announcement marks another milestone in Cisco's longstanding strategy to invest in new and innovative businesses in China. While CCS is Cisco's largest direct investment in China, the company has also committed over $700 million in venture funding to help launch nearly 30 Chinese start-up companies such as e-learning company Ambow and gaming company Shanda. "Cisco is proud that its venture capital funding is helping to build a new generation of entrepreneurial companies in China," said Ned Hooper, Cisco vice president of corporate business development. "The further development of publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. in China will create lasting value because the company, its profits, its intellectual property and its constellation of suppliers and partners are all rooted in the local economy." About Cisco Systems Cisco (NASDAQ:CSCO) is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com. Cisco, Cisco Systems, and the Cisco Systems logo are registered trademarks or trademarks of Cisco Systems, Inc. and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information. |
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