Parallels, a worldwide leader in hosting and cloud service enablement and desktop virtualization, founded in 1999 and it has more than 900+ employees in North America, Europe and Asia. The company announced on Jan 17, 2013 that Cisco, a networking giant had acquired an equity stake in their company that supports joint go-to-market activities to provide industry-leading cloud service. Cisco invests a small amount of 1 percent stake in Parallels, but it gets a place on the Parallel’s Board of Directors.

According to the Parallels press release, the investment is intended to strengthen inter-company collaboration towards accelerating customer adoption of Parallels cloud service delivery products with Cisco cloud and data center infrastructure solutions. Parallels and Cisco also agreed to expand joint development, marketing and industry initiatives as a part of the investment.

“Cisco is continuing its commitment to technology development and innovation through strategic investments,” said Hilton Romanski, Vice President, Corporate Business Development, Cisco. “In collaboration with Parallels, we are focused on offering a more efficient and easier-to-use cloud services delivery model for service providers. We are particularly excited about Parallels global presence – including its operations in Russia – which affords Cisco a continued opportunity to fuel innovation there and around the world.”

“Parallels is committed to enabling our service provider customers to offer the most comprehensive, seamless and flexible set of cloud services for their SMB end-users,” said Birger Steen, CEO Parallels. “By strengthening our collaboration with Cisco, Parallels is focused on accelerating its growth and offering an end-to-end solution for cloud service providers.”

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