Ericsson announced a partnership with Cisco in order to boost sales. Both companies are considered leaders in the networking, mobility, and cloud industries. Together, they plan on collaborating in order to create the future of networks. As the world becomes more focused on the cloud, Ericsson and Cisco plan to make their cloud secure, quick, and autonomous.
Hans Vestberg, the President and Chief Executive Officer of Ericsson, said,
"I am excited to work with Cisco on continuing to shape the Networked Society. Foremost, we share the same vision of the network's strategic role at the center of every company's and every industry's digital transformation. Initially the partnership will focus on service providers, then on opportunities for the enterprise segment and accelerating the scale and adoption of IoT services across industries. For Ericsson, this partnership also fortifies the IP strategy we have developed over the past several years, and it is a key move forward in our own transformation."
In terms of accolades, Ericsson and Cisco have a combination of over 50,000 patents, $10 billion dedicated to research and development, and over 70,000 employees.
Chuck Robbins, Chief Executive Officer of Cisco, said,
"With the pace the market is moving, the successful companies will be those who build the right strategic partnerships to accelerate innovation, growth, and customer value. Today's announcement brings together two visionary industry leaders, with complementary cultures and track records of innovation. We have worked with Ericsson during the last year on developing a strategy for future industry leadership, and can start executing together today. Our partnership will drive growth for both companies, unique value for our customers, and incredible innovation for the industry."
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