Posted on February 7, 2008 • By Jon Bartov
Category: Business Comments Off
John Chambers, CEO of Cisco Systems, likes Israel. He even said so at President Simon Peres’ special-invite-only business dinner with Israel’s hi-tech leaders.
“Venture capital is not about money, it’s about expertise,” he said, referring to Israel’s strength as an innovator.
“We’re deeply committed to Israel and intend to expand,” Chambers said adding that he was “very satisfied” with his company’s activities in Israel.
Cisco Systems Inc (Nasdaq: CSCO) with a market capital of $145 billion, is the world’s premier networking company and is responsible for many innovations, particularly in the world of Web 2.0. Cisco has acquired nine Israeli companies, and it seems he may be doing some shopping on this trip as well:
“I’m going to continue to acquire companies here,” Chambers said, noting Cisco has bought more companies in Israel than in any other location other than the United States. “I think you are going to continue to see us being very proactive in this country. We see a lot of innovation occurring here across everything.”
Chambers has been pretty busy during his trip in Israel. In addition to the dinner, he has unveiled two community projects (with a total investment of 2.5 million dollars) which use technology to advance the peace process and help underprivileged youth.
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