Cisco Capital, a wholly owned subsidiary of global networking giant Cisco Systems, has expanded to Mexico, where it will offer to finance the acquisition of new technologies by Mexican businesses.
Until now Cisco Capital had operated in Mexico through its financing partners, but this marks the first time it will be tapping the Mexican market directly and launching an office in the North American country.
“This is the first time we have had direct operations in this region, which will help Mexican businesses acquire new technologies with flexible and competitive direct financing options, including local currency offers,” said Kristine A. Snow, president of Cisco Capital.
“Now, Mexican customers will have access to pure leases, finance leases, loans and installment sale, directly, in either Mexican pesos or US dollars,” the US company said in a statement.
“Cisco is highly committed to its operation in Mexico,” added Rogelio Velasco, vice president of Cisco Mexico. “This investment is one component of the overall plan that the company has for the country in order to contribute to the economic growth, technology evolution and job creation.”
Cisco recently announced plans to boost its investments in startups by $150 million. The global technology giant also recently announced three new investments related to the emerging Internet of Things.
One of its services guides businesses in how to invest in technology and which Cisco solution suits them most. Its main job, however, is to put together Cisco-based solutions and technologies, and tailor its financial offerings for customers based on how those technologies are typically deployed and consumed.