Hungarian telecommunications company Magyar Telekom and US computer-networking company Cisco Systems agreed on Tuesday to establish a joint, HUF 50 million (€190,058) innovation center in Budapest, the business daily Napi Gazdaság reported on Wednesday.
The innovation center, which will focus on development and testing of IP network solutions and virtual data-center technology for corporate users, will open at the beginning of the summer at the location of Magyar Telekom's system-integrations unit, KFKI.
Magyar Telekom and Cisco will split the cost of the investment evenly.
Magyar Telekom President-CEO Christopher Mattheisen told the newspaper that the center's initial developments would likely be introduced to Hungary's business-communications market this year. (MTI-Econews)