June 16: Technology conglomerate Cisco Systems is envisaging a propelling growth for the start-up ecosystem, and the company is eyeing to give it a further push. The American-based multinational company will be investing over $200 million in the sector to give start-ups from around the world, including India, a big push.
The investment will be made use to acquire blooming start-ups. The company already has a profound history of having acquired over 200 companies in the past three decades. Cisco’s plan to continue with its aggressive investments was revealed by Rob Salvagno, who is the company head of mergers and acquisitions and also the vice-president of corporate development. He was speaking at the sidelines of Cisco Live, the company’s flagship annual technology event for customers and partners.
Accordingly, Cisco’s corporate venture capital arm will continue investing in start-ups within the US as well as around the world. That would also include start-ups from India, where Cisco has already provided the backing for over 20 start-ups. Cisco’s VC arm has also invested in some of India’s noted VCs like IDG Ventures and Stellaris Venture Partners.
Speaking of the potential of enterprises in India, he was quoted by news reports as saying that there exists a huge opportunity for enterprise and business-to-business (B2B), adding that Cisco was in a position to leverage that. He said he was very bullish on India.
Cisco has made over 20 software company acquisitions in the past three years, of which many were multi-billion deals. The largest acquisition of the company was that of AppDynamics which involved flow of $3.7billion.