Cisco will invest $16 million in the new firm, holding a 20 percent stake, while TCL will inject $64 million for the rest 80 percent share of the initiative, TCL announced on its website on Friday. TCL said the team-up with Cisco was due to its plan to develop the public enterprise cloud services platform to build on the business potential of cloud computing on the Chinese mainland.
Cisco to launch $80 million joint venture with TCL
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