Wednesday, April 19, 2006

IT: Cisco invests $256 million in Saudi Arabia

Cisco Systems Inc. has announced it will invest $256 million to expand its operations in Saudi Arabia, including a new technology incubator and the hiring of hundreds of additional employees.

Cisco CEO John Chambers said the company will increase the number of employees in the kingdom from 70 to 600, establish networking training centers and sponsor a Saudi technology innovation institute and incubation space for local start-up companies.

Cisco will also help network 2,000 homes in Saudi Arabia's poor communities.