Cisco Flocks to Turkey

It will invest $275 million.
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Cisco

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will sink up to $275 million into Turkey.

"Technology is able to drive the productivity and standard of living for communities and countries on a global basis, and Turkey understands the critical importance and transformative impact technology can have on businesses, governments, societies and the overall economic growth of the country," said CEO John Chambers.

"Cisco's announcement today about its investment in Turkey supports the country's entrepreneurial focus and e-transformation initiatives, which are focused on establishing a more connected country and skilled workforce in order to increase productivity and foster innovation, and are vital for Turkey to sustain the same rate of growth it has enjoyed over the past four years," Chambers continued.

Cisco said it will create technology investment initiatives aligned with Turkey's Networked Economic Agenda to help accelerate country transformation and economic growth.

It will develop a Cisco Systems Technology Innovation Center to demonstrate the impact technology has on productivity and establish the Cisco Entrepreneurship Institute.