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Cisco to triple workforce in Budapest

US network equipment maker Cisco Systems plans to triple the number of employees at its unit in Hungary in the next year and a half, business daily Világgazdaság reported on Wednesday.

Currently, the unit in Budapest operates with 50 employees. The new hires are necessary because of acquisitions made by the company over the last several years which have resulted in the introduction of new product families, and because of other business opportunities in the region, Robert Budafoki, who heads Cisco System's Hungarian unit, told the paper.
Studies shows big growth potential for internet-based home entertainment, such as web television, and this will require big investments in infrastructure, Budafoki said. The unit could see annual revenue growth of as much as 50% over the next two or three years and this growth will require new hires, including sales staff, engineers and business developers, he added.