Executives at hosting, cloud and virtualisation technology and services provider Parallels issued a statement to the press in Singapore on Friday (January 18, 2013) announcing that networking solutions provider Cisco Systems had made an equity investment in their company. According to them, the investment is in support of "joint go-to-market activities to deliver industry-leading service delivery capabilities."
"The investment is intended to strengthen inter-company collaboration toward accelerating customer adoption of Parallels cloud service delivery products with Cisco cloud and data centre infrastructure solutions," they said, adding that the two parties have "also agreed to expand joint development, marketing and industry initiatives."
Cisco's investment had been announced in the US a day earlier, through a similarly worded statement by Parallels, which also did not provide dollar figures. However, a MercuryNews.com report quoted "Parallel's press service" referring to the investment as "a small stake" of "about one percent of the company" and that "Cisco will get a seat on Parallel's board of directors."
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