Cisco Invests $50 Million in China Firm
Note: Everyone seems to be investing in China lately.
Cisco Systems Inc. announced a $50 million investment in the newly public China Communications Services Corporation Ltd., making the U.S. network-equipment maker the largest foreign investor in CCS.
CCS, formerly a subsidiary of the state-controlled China Telecom Group, went public earlier this month on the Hong Kong Stock Exchange. CTG, as well as state-controlled China Mobile and China Unicom, are the other big investors in CCS.
CCS helps large Chinese service providers such as China Netcom design and build Internet and other telecommunications networks. With the investment announced Wednesday, Cisco has committed more than $700 million in venture funding to nearly 30 Chinese companies.
Other recent investments include e-learning company Ambow and gaming company Shanda. But doing business in China remains risky _ even for Cisco, the most highly valued company in Silicon Valley, with a market capitalization of nearly $165.5 billion.
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Posted to Cisco