Cisco Systems

(CSCO) - Get Report

was climbing 2% on news that it has teamed up with Cable & Wireless, a British Web-hosting company, to deploy private Internet networks.

Cable & Wireless, which has customers in more than 70 countries, plans to use Cisco's computer networking equipment to provide companies an Internet-based communication network that will connect all of their networks in a secure intranet. The company said it will be the first company to offer a single, global IP platform that can support data, video and voice communication.

Cisco said that the deal will allow Cisco to offer C&W customers "complete network technology and support, saving them time and resources." It will also give the company access to C&W customers worldwide.

The financial details of the agreement were not made available.

Shares of Cisco were trading up about 2% on the news to $14.25 after closing at $14.01 Tuesday.