Kansas City leaders signed a letter of intent to team up with the communications company in order to explore new opportunities and "build out a city network, enhance citizen engagement, and develop a 'living lab' in the city's innovative district under Cisco's Smart+Connected Communities program," Cisco said.
Planned pilot projects include smart street lighting, smart video surveillance, environment and infrastructure sensing, and citizen engagement services solutions.
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Shares of Cisco are lower -0.55% to $24.34 on Thursday.
TheStreet Ratings team rates CISCO SYSTEMS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate CISCO SYSTEMS INC (CSCO) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."