Cisco Systems Inc. (CSCO) recently announced that it has entered into a memorandum of understanding (MoU) with Sheridan College and Partners In Research (PIR) to promote science, technology, engineering and math (STEM) among students and change the way in which these subjects are taught in the classroom.
As per the memorandum, Cisco contributed $1 million worth of advanced video technologies and Sheridan College will provide data center space and IT resources to support Cisco’s enterprise-class and share webcasting and video sharing solutions.
The idea behind the collaboration is to enhance and provide more opportunities to Canadian students who use the VROC or Virtual Researcher on Call program. This program allows students and teachers across the country to study the STEM subjects through video conferencing. The program includes video conferencing sessions spanning five to ten minutes, mentorship sessions on a semester basis and interactive presentations.
The collaboration is expected to bridge the gap between teachers and students based in remote areas in Canada and present opportunities that will positively impact the education system in the country. Cisco’s expertise in telecommunication will speed up the whole process.
Cisco’s success at leading universities comes from its superior technology and comprehensive portfolio. The company regularly updates and upgrades its portfolio to maintain its leadership position.
Cisco’s revenues in the second quarter of fiscal 2013 increased 5.2% year over year and 1.7% sequentially to $12.1 billion. Products (78.0% of total revenue) were up 3.3% year over year to $9.4 billion. Services (22.0% of total revenue) jumped 12.5% year over year to $2.7 billion.
Cisco carries a Zacks Rank #3 (Hold). Other companies in the sector that also look attractive include Infinera Corp. (INFN), Silicom Ltd. (SILC) and Juniper Networks (JNPR). While Infera Corp. and Silicom carry a Zacks Rank #2 (Buy), Juniper carries a Zacks Rank #3 (Hold).
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