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Cisco invests $50 m in Nuova Systems

NEW DELHI: The California-based Cisco Systems Inc., has invested $50 million in Nuova Systems Inc., to accelerate next-generation product development in the data centre, making it a majority-owned subsidiary of itself. Cisco has committed certain technology and $50 million of funding to Nuova Systems with the possibility of up to $42 million in additional funding in the future. The subsidiary will be owned nearly 80 per cent by Cisco, with the remaining 20 per cent interest being held by employees of the subsidiary.

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