PARTNERSHIP: Cisco Systems Inc will establish an US$80mil (RM260.3mil) joint venture with Chinese hardware manufacturer TCL Corp to invest in commercial cloud computing services, TCL said in a stock exchange filing on Thursday.
BEIJING: Cisco Systems Inc will establish an US$80mil (RM260.3mil) joint venture with Chinese hardware manufacturer TCL Corp to invest in commercial cloud computing services, TCL said in a stock exchange filing on Thursday.
Cisco will invest US$16mil (RM52.07mil) in the new firm, which has not been named and is still being registered, and hold a 20% stake, the filing said. TCL will pay US$64mil (RM208.21mil) for an 80% share.
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