Cisco Systems Inc. (NASDAQ:CSCO) and Telenor (OTCMKTS:TELNY) have announced the signing of their third Joint Venture Agreement iteration.
Cisco and Telenor to collaborate on various offerings
The restating of the agreement between the companies outlines the areas they will enhance to help telcos achieve various milestones ranging from B2b expansion, 5G, security, Open vRAN, and distributed cloud. This will also further hence Telenor’s digital transformation supporting its approach of a flexible way of work.
Most importantly, the two companies have continued to explore new 5G architecture, and already they have commenced an Open vRAN pilot. They are carrying the trial at the Telenor headquarters in Norway, where they are investigating the use of a virtualized open setup aimed at enhancing cost efficiency for rollouts of service.
Also, the companies have announced a new financing round for WG2. The venture provides a cloud-native carrier-grade mobile core solution permitting rapid mobile virtual network operators, mobile network operators, and enterprise service innovation. WG2 quickly transforms the mobile operator’s ability to innovate through cross-network interoperability and open APIs. The companies will use the new financing to accelerate the growth of WG2 in North America, Europe as well as Asia.
Cisco to integrate WG2
Cisco will include WG2 in its General Price List as well as its DevNet program. This will offer global sales coverage as well as quick new service integration with the company’s platforms, APIs, and products.
Telenor CEO and President Sigve Brekke stated that collaboration with Cisco has achieved success in the areas of mobility and security over the years. Bekke added that the partnership through WG2 will be cultivated towards achieving programmable networks that enable IoT, 5G, and private networks.
Chuck Robbins, the CEO and Chairman of Cisco, stated that they were delighted to partner with Telenor. He added that through the companies’ shared expertise and portfolios, they will enable telcos as well as mobile operators to move to the next level of their business. Chuck added that they will evolve WG2 to minimize time to market as well as enhance tome to revenue.