Swedish communication technology and services firm Ericsson and American technology company Cisco on Monday said they are partnering to create networks of the future.
"The multi-faceted relationship will offer customers the best of both companies: routing, data centre, networking, cloud, mobility, management and control, and global services capabilities," Cisco and Ericsson said in a joint statement.
Both the companies are going to offer more value to customers by offering service providers an end-to-end product and services portfolio, and joint innovation that accelerates new business models.
"Our customers will get more value once we create the mobile enterprise experience of the future through a highly secure technology architecture for seamless indoor or outdoor networks, and channel the combined scale and innovation of both companies to accelerate the platforms and services needed to digitise countries and create the Internet of Things," the companies said.
Cisco and Ericsson both expect an incremental revenue opportunity of $1 billion (roughly Rs. 6,640 crores) or more each by 2018.
"The strategic partnership will be a key driver of growth and value for the next decade, with each company benefiting from incremental revenue in calendar year 2016 and expected to ramp to $1 billion or more for each by 2018," Ericsson said in a statement.
Ericsson also said it would continue to explore further joint business opportunities with Cisco.
Written with agency inputs