To Russia, With Love From Cisco - NBC Bay Area

To Russia, With Love From Cisco



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    Cisco Systems Inc. says it will invest $1 billion to help foster high-tech innovation in Russia.

    Cisco CEO John Chambers made the commitment at a meeting at the company's San Jose headquarters Wednesday with Russian President Dmitry Medvedev. The president was visiting the computer networking equipment manufacturer as part of a tour of Silicon Valley.

    Medvedev says he wants to bring more high-tech innovation to Russia's oil-dependent economy and create the country's own Silicon Valley outside Moscow.

    Cisco says it plans to establish a physical presence in the country's new technology center and set up a second global headquarters for its emerging technologies group in Skolkovo.

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    Medvedev is also scheduled to meet Apple CEO Steve Jobs later in the day. He spent the morning at Twitter in San Francisco.