Cisco Systems, Inc. (NASDAQ: CSCO, SEHK: 4333) is a multinational corporation with more than 66,000 employees and annual revenue of US$43 billion as of 2011. Headquartered in San Jose, California, it designs and sells networking and communications technology and services under five brands, namely Cisco, Linksys, WebEx, IronPort, and Scientific Atlanta.
Corporate history
Len Bosack and Sandy Lerner, a married couple that worked in computer operations staff at Stanford University, later joined by Richard Troiano, founded cisco Systems in 1984. The name "Cisco" was derived from the city name, San Francisco, which is why the company insisted using the lower case 'cisco' in the early days. Bosack adapted multiple-protocol router software originally written by William Yeager, another staff employee who had begun the work years before Bosack arrived from the University of Pennsylvania, where Bosack had received his bachelor's degree.
While Cisco was not the first company to develop and sell a router, it was one of the first to sell commercially successful routers supporting multiple network protocols. As the Internet Protocol (IP) has become a standard, the importance of multi-protocol routing as a function has declined. Today, Cisco's largest routers are marketed to route primarily IP packets and MPLS frames.
In 1990, the company went public and was listed on the Nasdaq stock exchange. Lerner was fired and because of that, Bosack quit but not before receiving $200 million. Most of those profits were given to charities and the two later divorced.
Cisco acquired a variety of companies to bring in talent and innovation into the company. Several acquisitions, e.g. Stratacom, were the biggest deals at the time when it happened. During the Internet boom in 1999, the company acquired Cerent Corp., a start-up company located in Petaluma, California, for about US$7 billion. It was the most expensive acquisition made by Cisco at that time. Since then, only Cisco's acquisition of Scientific-Atlanta has been bigger. Although not every acquisition is equally successful, Cisco has been on the successful side integrating its acquisitions compared to its competitors. Several acquired companies has grown into the backbone business units for Cisco in the LAN switching, VOIP, and home networking area.
In late March 2000, at the height of the dot-com boom, Cisco was the most valuable company in the world, with a market capitalization of more than US$500 billion. In 2007, with a market cap of about US$180 billion, it is still one of the most valuable companies. CSCO was voted stock of the decade on NASDAQ. The company's 7500 Series router was voted 3rd in the product of the decade 1990-2000 behind the Mosaic web browser and the Novell LAN manager.
Cisco has made inroads into many network equipment markets outside routing, including Ethernet switching, remote access, branch office routers, ATM networking, security, IP telephony, and others. In 2003, Cisco acquired Linksys, a popular manufacturer of computer networking hardware and positioned it as a leading brand for the home and end user networking market (SOHO).
The company's first two CEOs are John Morgridge and John Chambers.
The company was a 2002-03 recipient of the Ron Brown Award.
Corporate affairs
The company has its corporate headquarters in San Jose, California, with many buildings in the area near North First Street and Tasman. Cisco also has outposts in many other countries such as Algeria, Argentina, Australia, Austria, Belgium, Belize, Bolivia, Bosnia and Herzegovina, Brazil, Bulgaria, Canada, Chile, China, Colombia, Costa Rica, Croatia, Czech Republic, Denmark, Ecuador, Egypt, El Salvador, Estonia, Finland, France, Germany, Greece, Guatemala, Honduras, Hong Kong, Hungary, India, Indonesia, Ireland, Israel, Italy, Japan, Kenya, Kuwait, Kosovo, Latvia, Lithuania, Luxembourg, Macedonia, Malaysia, Mexico, Monaco, Montenegro, Nepal, Netherlands, New Zealand, Nicaragua, Nigeria, Norway, Panama, Paraguay, Peru, Philippines, Poland, Portugal, Puerto Rico and The Caribbean, Romania, Russia, Senegal, Serbia, Singapore, Slovakia, Slovenia, South Korea, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, Ukraine, United Arab Emirates, United Kingdom, Uruguay, Venezuela, Vietnam.
Cisco's vision is "Changing the Way We Work, Live, Play and Learn." Cisco's current tagline is "Welcome to the human network."
This article uses content from Wikipedia.
