Report: Cisco to build $547.4M technology center in Rio de Janeiro

Cisco (Nasdaq: CSCO) will make an even bigger push into Brazil's telecom market by building out a 1 billion reais ($547.4 million) innovation and technology center in Rio de Janeiro, reports Bloomberg, citing an article in Estado de S. Paulo.

The report went on to say that the vendor's Brazil president, Rodrigo Abreu, will make the announcement on April 2 at a company event in Rio de Janeiro.

This technology center will be inaugurated in the second half of this year.

While Felipe Lamus, a Cisco spokesman, would not comment on the report, he did say that the vendor would make an "important announcement" about its Brazil operations during this week's Cisco Plus Brazil 2012 event.

For more:
- Bloomberg has this article

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