Don't hang up! Cisco chucks $100m at Internet of Things
Places big bets on staying connected with world
Cisco may have predicted tough times ahead, after sales recently fell sharply in China and it laid off 4,000 employees due to a growth slump, but the networking giant reckons that pumping cash into the so-called Internet of Things will help spur on recovery.
It has slapped $100m on the pile to invest in ultra-low-power embedded devices that mostly consist of sensors and control systems to help keep the world connected.
The network kit maker estimated that IoT could help public sector organisations alone to generate $4.6 trillion in value over the next decade (PDF, 17 pages). Cisco, naturally, wants a slice of that market.
On Wednesday, the John Chambers-run company reported weak results, after it had previously warned Wall Street investors to brace themselves for more pain. ®