February 16, 2015 / 9:10 PM / 5 years ago

France says Cisco to invest 100 million euros in French startups

A visitor walks past a Cisco advertising panel at the Mobile World Congress in Barcelona February 27, 2014. REUTERS/Albert Gea

PARIS (Reuters) - U.S. network equipment maker Cisco Systems Inc. plans to invest $100 million in French start-ups, French Prime Minister Manuel Valls’ office said on Monday.

The investment is part of a partnership between the company and the French state that aims to develop better networks, improve cybersecurity, provide training 200,000 people over three years and finance academic research.

“Lastly, work to assist digital innovation will be undertaken thanks to a $100 million investment from Cisco in French startups,” said a statement from Valls’ office after he met with the company’s CEO, John Chambers.

Reporting by Leigh Thomas. Editing by Alexandria Sage

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