# Cisco
**Cisco Systems, Inc.** is an American networking equipment and software company, founded in 1984 in [San Jose, California](https://www.edgepedia.org/san-jose-california), by a group of Stanford University researchers, that supplies the hardware, software, and services organizations use to build and secure computer networks[1](https://www.treccani.it/enciclopedia/cisco-systems/). The company describes itself as the worldwide technology leader connecting and protecting organizations in the AI era, and it has been in business for more than 40 years[2](https://investor.cisco.com/overview/). In fiscal 2025 it reported revenue of $56.7 billion, more than 1 million customers across 150 countries, and approximately 86,200 employees[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf) • [4](https://www.sec.gov/Archives/edgar/data/858877/000085887725000111/csco-20250726.htm).
| Key fact | Detail |
|---|---|
| Founded | 1984, San Jose, California, by a group of Stanford University researchers[1](https://www.treccani.it/enciclopedia/cisco-systems/) |
| Fiscal 2025 revenue | $56.7 billion, up 5% year over year; recurring revenue streams more than half of total[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf) |
| Employees | Approximately 86,200 as of July 26, 2025[4](https://www.sec.gov/Archives/edgar/data/858877/000085887725000111/csco-20250726.htm) |
| Market value | $247.5 billion held by non-affiliates, based on the January 24, 2025 closing price[4](https://www.sec.gov/Archives/edgar/data/858877/000085887725000111/csco-20250726.htm) |
| Customers and partners | More than 1 million customers in 150 countries; 99% of the Fortune 500; more than 82,000 government organizations; 37,000+ partners[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf) |
| Product categories | Networking, Security, Collaboration, and Observability, plus lifecycle services[4](https://www.sec.gov/Archives/edgar/data/858877/000085887725000111/csco-20250726.htm) |
| Largest acquisition | Splunk, completed March 18, 2024[5](https://www.cisco.com/c/dam/en_us/about/annual-report/2024-cisco-full-annual-report.pdf) |
| AI orders | More than $2 billion of AI infrastructure orders from webscale customers in fiscal 2025[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf) |
## History
Cisco was founded in 1984 in San Jose, California, by a group of Stanford University researchers[1](https://www.treccani.it/enciclopedia/cisco-systems/). The company's own account states that since its founding in 1984 it has helped power connectivity and drive digital transformation across the world[5](https://www.cisco.com/c/dam/en_us/about/annual-report/2024-cisco-full-annual-report.pdf). [The Italian](https://www.edgepedia.org/the-italian) reference work Treccani describes Cisco as the leading networking supplier for the Internet[1](https://www.treccani.it/enciclopedia/cisco-systems/).
**Acquisition campaign.** Since 2002, Cisco has pursued an intense campaign of acquisitions of United States and foreign companies producing networking systems[1](https://www.treccani.it/enciclopedia/cisco-systems/). The largest of these was Splunk, a data-analytics and security company, whose acquisition was completed on March 18, 2024, significantly earlier than initially anticipated[5](https://www.cisco.com/c/dam/en_us/about/annual-report/2024-cisco-full-annual-report.pdf). Splunk contributed approximately $1.4 billion in revenue following the close of the acquisition in March 2024[5](https://www.cisco.com/c/dam/en_us/about/annual-report/2024-cisco-full-annual-report.pdf).
## Products and technologies
Cisco groups its products and technologies into four categories: Networking, Security, Collaboration, and [Observability](https://www.edgepedia.org/observability). In addition to these product offerings, it provides a broad range of services over the lifecycle of its products, including technical support services and advanced services[4](https://www.sec.gov/Archives/edgar/data/858877/000085887725000111/csco-20250726.htm).
**Networking.** The networking business is built on a foundation of switching, routing, wireless, and servers, offered through a comprehensive suite of both hardware and software solutions[4](https://www.sec.gov/Archives/edgar/data/858877/000085887725000111/csco-20250726.htm). Central to Cisco's hardware strategy is Silicon One, which the company characterizes as a networking silicon architecture delivering high performance, low power consumption, and scalability, with the features and efficiency required to support AI workloads; over time, Cisco intends to build it into every product it offers[5](https://www.cisco.com/c/dam/en_us/about/annual-report/2024-cisco-full-annual-report.pdf). In fiscal 2025 the company said it had refreshed almost its entire product portfolio with networking systems powered by Silicon One, AI-native security solutions, and software operating systems[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf).
**Security.** The security portfolio includes newer products such as Secure Access, XDR, Hypershield, Firewalls, and AI Defense, which collectively ended fiscal 2025 with over 2,000 customers[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf).
## Business model and financials
Cisco sells substantially through indirect channels. A substantial portion of its products and services is sold through channel partners such as systems integrators, service providers, resellers, and distributors; as of the end of fiscal 2025 the worldwide sales and marketing organization consisted of approximately 25,600 employees[4](https://www.sec.gov/Archives/edgar/data/858877/000085887725000111/csco-20250726.htm).
**Subscription shift.** The company has deliberately shifted its business model toward recurring software and subscription offerings, a shift accelerated by recent acquisitions, including Splunk in the third quarter of fiscal 2024[4](https://www.sec.gov/Archives/edgar/data/858877/000085887725000111/csco-20250726.htm). In fiscal 2024, 51% of total revenues came from subscriptions[5](https://www.cisco.com/c/dam/en_us/about/annual-report/2024-cisco-full-annual-report.pdf), and in fiscal 2025 recurring revenue streams made up more than half of total revenue[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf).
**Financial scale.** Fiscal 2024 revenue was nearly $54 billion, which Cisco called the second strongest performance in its history[5](https://www.cisco.com/c/dam/en_us/about/annual-report/2024-cisco-full-annual-report.pdf); fiscal 2025 revenue rose 5% to $56.7 billion[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf). The company returned $12.4 billion, or 94% of its free cash flow, to stockholders through dividends and share repurchases in fiscal 2025[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf), after returning more than $12 billion, or 119% of free cash flow, in fiscal 2024[5](https://www.cisco.com/c/dam/en_us/about/annual-report/2024-cisco-full-annual-report.pdf).
## What has changed since 2023
Three changes stand out in the company's own reporting for fiscal 2024 and 2025.
**Splunk and a unified product organization.** Cisco completed its largest-ever acquisition, Splunk, on March 18, 2024, and brought its Networking, Security, and [Collaboration](https://www.edgepedia.org/collaboration) teams together as one product organization under a single leader, Jeetu Patel, its new Chief Product Officer, with the Splunk portfolio to be integrated into that organization[5](https://www.cisco.com/c/dam/en_us/about/annual-report/2024-cisco-full-annual-report.pdf). The Splunk integration was completed in fiscal 2025[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf).
**AI networking.** Cisco crossed $1 billion in AI orders with webscale customers by the end of fiscal 2024 and expected an additional $1 billion of AI product orders from these customers in fiscal 2025[5](https://www.cisco.com/c/dam/en_us/about/annual-report/2024-cisco-full-annual-report.pdf). It exceeded that expectation, receiving more than $2 billion of AI infrastructure orders from webscale customers in fiscal 2025, more than double its initial target[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf). The company positions its Silicon One-powered networking portfolio, AI-native security solutions, and operating systems as critical infrastructure for the AI era[2](https://investor.cisco.com/overview/).
**Recurring revenue.** The subscription model continued to expand, with recurring revenue streams exceeding half of total revenue in fiscal 2025[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf).
## Competitive position and ecosystem
Cisco's fiscal 2025 [Form 10-K](https://www.edgepedia.org/form-10-k) names a broad competitor set spanning several markets: [Amazon Web Services](https://www.edgepedia.org/amazon-web-services), Arista Networks, Broadcom, Ciena, CrowdStrike, Datadog, Dell Technologies, Dynatrace, Fortinet, Hewlett-Packard Enterprise, Huawei, Microsoft, New Relic, Nokia, Nvidia, Palo Alto Networks, RingCentral, Zoom, and Zscaler, among others, in each case relative to only some of Cisco's products or services[4](https://www.sec.gov/Archives/edgar/data/858877/000085887725000111/csco-20250726.htm). The list does not name [Juniper Networks](https://www.edgepedia.org/juniper-networks), and Cisco's own filing treats competition as product-by-product rather than as a single ranking[4](https://www.sec.gov/Archives/edgar/data/858877/000085887725000111/csco-20250726.htm).
**Talent pipeline.** Cisco's reach extends into training: the Cisco Networking Academies, schools that train specialized networking personnel, are located in 150 countries[1](https://www.treccani.it/enciclopedia/cisco-systems/).
**Customer base.** Cisco reports more than 1 million customers across 150 countries, 99% of the [Fortune 500](https://www.edgepedia.org/fortune-500), more than 82,000 government organizations, and more than 37,000 partners in its global partner ecosystem[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf). More than 50% of its customers buy both campus networking and data center networking platforms[3](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf).
## References
1. [Cisco Systems, Enciclopedia Treccani](https://www.treccani.it/enciclopedia/cisco-systems/)
2. [Cisco Systems Inc. Investor Relations Overview](https://investor.cisco.com/overview/)
3. [Cisco 2025 Full Annual Report](https://www.cisco.com/c/dam/en_us/about/annual-report/2025-cisco-full-annual-report.pdf)
4. [Cisco Systems Inc. Form 10-K, fiscal year ended July 26, 2025](https://www.sec.gov/Archives/edgar/data/858877/000085887725000111/csco-20250726.htm)
5. [Cisco 2024 Full Annual Report](https://www.cisco.com/c/dam/en_us/about/annual-report/2024-cisco-full-annual-report.pdf)
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*Topic: Encyclopedia › Technology and the built world › Computing and digital systems › Networks and security › Networking fundamentals and architecture › Network hardware and vendors › Networking equipment vendors*
*Initially written Sep 17, 2026 · Reviewed: Oct 25, 2026 · Edited: Oct 15, 2026; Oct 25, 2026 · Last review: Oct 25, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license