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U.S. tech giant Cisco to open new R&D center in Israel

By Mason White 2:29 PM June 20, 2013
John Chambers hugs Shimon Peres 

By: Shifra Unger
More technology jobs will soon be coming to Israel as U.S. technology giant Cisco Systems announced it is planning to open a new Research and Development center in Israel.

Cisco plans to open the new research and development center in central Israel, John Chambers, who is the CEO of the company, said during his meeting with Yesh Atid leader Yair Lapid.

It expects that the new center will provide 100 additional jobs to its 2,000 employees already working in Israel.

Chambers said Tuesday that the new center will focus on securing technology, which is based on the knowledge accumulated by NDS, an Israeli high technology company Cisco acquired last year for $5 billion.

“We are delighted to expand cooperation with the State of Israel,” Chambers, who is on a three-day visit to Israel at the invitation of President Shimon Peres to attend the fifth Israeli Presidential Conference, said.

The president of the U.S. company is also scheduled to meet with the Prime Minister of Israel, Benjamin Netanyahu, Finance Minister Naftali Bennett, Minister of Communication Gilad Erdan, and Education Minister Shai Piron.

This is the third time Chambers is visiting Israel. His last visit in March 2012 was marked by the acquisition of TV software developer NDS.

Headquartered in San Jose, California, Cisco develops, manufactures and markets network equipment and software. The company is valued at about $113 billion, and employs more than 65,000 workers worldwide.