By Dominic Maher, 9 August 1999 12:59
NEWS Cisco Systems has invested $1bn in accounting and consulting firm, KPMG, in return for a 20 per cent stake in the outfit. KPMG will offer services using Cisco equipment, with marketing provided by the networking company's 6,000-strong sales force. Six technology centres will be built, four in the US and two abroad, with KPMG hiring 4,000 engineers and service professionals over the next 18 months. The Securities and Exchange Commission (SEC) still may remain a stumbling block for the move due to the fact that non-certified public accounting firms are barred from owning accounting firms.
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