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Cisco and EMC establish joint venture

Nov 05, 2009 (M2 EQUITYBITES via COMTEX) --

Companies: Cisco Systems, Inc. (CSCO), EMC Corp. (EMC)

Networking equipment supplier Cisco Systems Inc (NASDAQ:CSCO) said on Tuesday that it has established a joint venture with data storage provider EMC Corporation (NYSE:EMC).

The new company, called Acadia, will have a focus on accelerating customer build-outs of private cloud infrastructures through an end-to-end enablement of service providers and large enterprise customers.

While Cisco and EMC are the lead investors, the build-out of Acadia's expanded capabilities in 2010 has also been capitalised by investments from virtualisation software company VMware Inc (NYSE:VMW), majority owned by EMC, and chip maker Intel Corporation (NASDAQ:INTC).

Cisco, EMC and VMware have also launched a collaboration called the Virtual Computing Environment coalition. 

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Copyright (C) 2009 M2. All rights reserved

News Provided by COMTEX

Companies: Cisco Systems, Inc. (CSCO), EMC Corp. (EMC)


Related terms: data storage, environment, joint venture, nasdaq, networking, nyse, software

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