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Cisco’s Flight to Cloud

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According to reports from various news outlets, Cisco Systems, Inc. (NASDAQ:CSCO) is seeking to build the largest cloud network in the world. Over the next two years, the manufacturer of network communication systems will spend $1 billion to enter the cloud services market. Cisco will forge partnerships with companies already in cloud business to develop Cisco Cloud Services into a powerhouse. For example, companies like Canopy, MTS Allstream Inc., Telstra Corporation Ltd (ASX:TLS), and OnX Enterprise Solutions are all expected to work on Cisco Cloud Services.