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Cisco boss talks of recovery and further acquisitions

Simon Quicke

In a climate where most CEOs shy away from making bold optimistic statements about the future Cisco's head honcho has talked of double digit growth and acquisitions.

Speaking at a financial analyst conference yesterday John Chambers, CEO of Cisco, said that there was an economic recovery coming and it was expanding into new markets.

He said that most of its customers had cut back on spending but were at the point where they could not make any more reductions without cutting "into the muscle".

Cisco has been acquisitive this year with the Tandberg deal the latest to get the green light but Chambers indicated that it could buy more if it supported moves into fresh markets.

"In 45 days we did four acquisitions around the world, three of them outside the US," he said.

He hinted that with most of its cash held outsider the US it made sense to continue on its recent trend of buying outside of its home territory.

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