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Cisco Partners With Alibaba, Announces New China Initiatives
Cisco signed a memorandum of understanding (MOU) with Alibaba Group on November 1 in Beijing to develop business services for China's small and medium-sized enterprises (SME), including developing Software as a Service (SaaS) in China. Cisco will also work to help Alibaba expand its business internationally. In a separate agreement, Cisco has promised to invest US$17.5 million as part of Alibaba Group's business-to-business subsidiary Alibaba.com as part of Alibaba.com's initial public offering, according to the report. Cisco also partnered with China Development Bank to invest in Chinese companies and the Chinese Ministry of Education to expand IT training offerings. Cisco said it may grow its total spending in China from US$8.5 billion over the last five years to US$16 billion over the next five years.
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