Cisco Systems, Inc. (NASDAQ:CSCO) Spends $500 Million On Berlin’s Smart City Initiative

Cisco Systems, Inc. (NASDAQ:CSCO) has invested $500 million in an initiative that aims to transform Berlin into a haven of technology.

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The company will team up with Berlin’s local government in the plan whose main agenda is to transform the city into a co-called smart city. The initiative will deal with various focal points including cyber security, telemedicine, and improvements in network infrastructure. This is as indicated in the memorandum of understanding that was signed by both Cisco and the city’s Department of Economics.

The two parties have not revealed the total amount that will be required to fund the initiative, but Cisco has already pledged half a billion which will oversee infrastructure development over three years. Some of the engagements that are expected to be involved include testing and development of 5G networks. Another engagement is the Deutschland Digital initiative, which will help Cisco to speed up digitization in the country.

Oliver Tuszik, Cisco’s general manager in Germany, stated that digitization is of importance to companies, cities and countries because it leads to improved public services, more competitiveness, and improvement in the quality of life. He further added that Cisco’s intent is to be a contributing party towards the transformation. The initiative in telemedicine is expected to bring improvements in medical care in the city, especially for refugees.

The networking firm also intends to come up with a similar system that will be used by hospitals, fire brigades, and the police to improve public safety for the city’s residents. The security operations center will speed up response times in emergency situations and adverse weather conditions through the integration of environmental data, traffic and weather data.

Cisco also plans to attract a variety of organizations and companies that are already migrating towards digital solutions. The networking company aims to bring them together through a horizontal networking infrastructure. The networks will also have analytics and security capabilities centered on open international standards. Tuszik announced that the company was pleased to be part of the important step that Berlin is taking with the initiative.

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