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Cisco Expands Local Presence
BY JOSE MARTINEZ
March 15, 2001
Cisco Systems, a leading manufacturer of networking and telecommunications equipment, is expanding local presence, investing more than $2.5 million in new offices in Hato Rey. The offices will be used to manage all business in Puerto Rico, the Caribbean, Bahamas, and Bermuda, following the trend of other information technology firms to base all Caribe/Central America operations in Puerto Rico.
"We have had great success with the Caribbean market achieving a 500% growth since December of 1998," said Juan Segarra, regional manager for Cisco Systems Inc. "We see a lot of potential in the market and expect to grow even more. (See related telecommunications story.)
According to Segarra, Puerto Rico represents 60% of all Cisco sales in the Caribbean. The company currently employs 10 people locally, but according to growthwhich Segarra conservatively estimated at 40% per yearwill keep on adding personnel to the staff.
Cisco boosts a high market share of almost 100% in the Internet service provider market and banking sector. The company intents to push Internet protocol (IP) telephony in the local market for telecommunication carriers and small-and medium-size businesses to further expand its sales.
This Caribbean Business article appears courtesy of Casiano Communications.