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Cisco Entering Cloud Services Market with OpenStack Tech and $1 Billion Investment

Networking giant Cisco System today made its boldest move yet into the cloud services marketplace announcing a new Global InterCloud initiative. Cisco has pledged to invest over $1 Billion in the effort over the next two years.

At the center of the Global Intercloud is the open-source OpenStack cloud platform as well as Cisco’s own Application Centric Infrastructure (ACI) approach.