IBM out of the Ring with Cisco

NEWS Cisco has won a multi-million pound contract to upgrade IBM's internal Token Ring network with its ethernet technology. In a research note, Nikos Theodosopoulos, analyst at UBS Warburg, said the networking giant will replace IBM's technology with equipment based on the most widely used Ethernet standard. In 1999, Cisco became IBM's preferred network supplier in a $3bn five-year contract. Cisco and IBM were unavailable to comment.