Cisco to invest $1B in global cloud computing network

Cisco Systems will invest $1 billion over two years to expand its cloud offerings, the company said on Monday, linking hundreds of data centers and cloud providers around the world in a network with more than 30 partners.

Dubbed Intercloud, the network would help businesses process and manage data generated by billions of devices and applications worldwide, according to Reuters.

During the timeframe, Cisco said it would add 250 data centers in 50 countries to its network.

Read more from Reuters.