Benzinga | Apr 8, 2021 08:32AM EDT

NEC Extends Cisco Partnership For Universal Positioning Of 5G IP Transport Network Solutions

* NEC Corporation and Cisco Systems Inc (NASDAQ: CSCO) agreed to extend theirs over two decades partnership for fast-tracking the global deployment of innovative 5G IP transport network solutions.

* The companies will drive new business opportunities for 5G under the arrangement.

* NEC group companies will work with Cisco to match NEC's ecosystem with improved IP metro/access transport and edge cloud computing solutions. Cisco will support NEC's customer engagements through cutting-edge products, proposals, and execution support.

* NEC's network integrator expertise in both the IT and network domains, united with Cisco's advanced 5G solutions portfolio, could be a major value addition to the 5G ecosystem. NEC and Cisco collaborate to drive their joint solution portfolio and regional activities for global digital transformation.

* Price action: CSCO shares closed lower by 0.49% at $51.77 on Wednesday.