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The acquisition, valued at approximately $28 billion, one of the largest in Cisco's history, signifies a strategic move to strengthen its software portfolio amidst the growing interest in artificial intelligence technologies. 

Despite the overall decline, Cisco reported areas of growth in security, collaboration, and observability products, signalling a strategic move towards high-demand sectors within the tech landscape.

With the aim to bolster its secure networking capabilities across public clouds, Cisco announced its plans to acquire Isovalent, a Swiss-based company specialising in cloud-native networking and security.

Cisco's revenue growth was largely driven by a 13% year-over-year increase in total software revenue and a similar rise in software subscription revenue.

Apart from his new role at Cisco, Dan Schulman holds positions on the boards of PayPal, Verizon Communications and Cleveland Clinic. His past board memberships include NortonLifeLock (formerly Symantec Corporation) and Flex Ltd.

Cisco and Nutanix partnership is aimed at simplifying hybrid multicloud deployments and offering a comprehensive solution for IT modernization.

Cisco and NEC Corporation have announced their plan to expand collaboration efforts to provide system integration solutions and explore opportunities in 5G xHaul and private 5G.

Kyndryl and Cisco announced a technology partnership in which both the firms will push managed services and develop network and edge computing solutions.

According to Industry experts, the move is in direct conflict with the sector regulator’s position to open up this spectrum band.

Vishak replaces Rajesh Maurya who has been heading the Fortinet India business for over five years. Maurya will move into a new role within Fortinet, the company said.