Cisco is to invest 200,000 euros with Asystec, an Irish data analytics and data management solutions company in a Big Data joint venture focused on the Internet of Everything (IoT).
Privately owned Asystec has positioned itself as a data analytics provider in Ireland and the UK, and says it has a line-up of global brands and multinationals as clients.
The company has invested in a data analytics 'innovation labs' to meet the demand for data management solutions in the Ireland and UK market.
This joint venture sees Asystec deliver its expertise in data analytics while Cisco delivers infrastructure and expertise to provide a complete Big Data solution.
Asystec CEO Les Byrne said: "When it comes to data analytics you need a number of components to make it deliver. You have to form alliances, and Cisco was an easy choice because in terms of direction we are aligned with its future vision."
As well as the financial investment by Cisco, Asystec will be investing in the venture in terms of HR, marketing and training at the recently launched 'Innovation labs' at Asystec offices in Belfast, Dublin, Limerick and Cork.
Adam Grennan, Cisco Ireland Manager, said: "We are rapidly beginning to experience the Internet of Everything. With each new person, process, piece of data, or thing that comes online, the connection possibilities between all these elements grows exponentially.
And yet, it's not the act of getting connected, or even the number of connections, that creates the value. Rather, it's the outcomes the connections make possible.
"The rise of Big Data represents an incredible opportunity for those who are able to create the processes needed to extract the value and act upon it.
"Asystec, in collaboration with Cisco, provides the right combination to help businesses deliver new capabilities, richer experiences, and unprecedented returns."
The joint venture will be rolled out over the coming 12 months.