Networking giant Cisco announced an investment of $500 million in Germany over the next three years, to help accelerate the country’s digitization.
The program is called “Deutschland Digital” and focuses on innovation, security and education, Cisco said in a press statement.
It noted that planned investments foresee funds for specific digitization projects, research projects, an expansion of the Cisco Networking Academy, and direct investments in venture funds, as well as to human resources and infrastructure spending.
Chuck Robbins, CEO of Cisco, commented: “Germany has long been known for its focus on innovation, and digitization opens up unprecedented opportunities for the country. With our increased investments in education, innovation and security, we can help create a digitalGermany that can bring even greater value to the country and its citizens. Cisco is honored to partner with Germany on ‘Deutschland Digital.'”
In Germany, Cisco plans to expand its investment in start-ups and venture funds with priority areas such as security, cloud, and Internet of Things (IoT). Cisco is already focused on the emerging startup ecosystem in Germany, having recently made an investment in IoT provider relayr, headquartered in Berlin.
The Silicon Valley company is aggressively investing in start-up companies this year. The company has acquired a San Francisco data-searching technology provider Synata recenlty. Last week, Cisco announced its intention to buy a cloud computing start-up CliQr for $260 million.