On Tuesday, Mahindra Group has informed that it has signed a strategic alliance with the global leader in networking, Cisco Systems. This joint venture will allow the company to enter the global market platform. Now Mahindra Group is looking forward to provide cloud computing services on international level along with Cisco.

Cisco Systems has informed that it is very much anxious about this partnership with Mahindra Group. Both the companies will work on areas including cloud computing, connecting communities, networking etc. The main objective of this joint venture is to capture a target market of $5 billion in next 5 years.

On the contrary, Anand Mahindra, the Vice Chairman of Mahindra & Mahindra has said that the Joint Venture will undoubtedly help the firm to reach various geographies. M&M group will look forward to provide its cloud computing services in the global market. Mr. Mahindra has also said that the partnership is not just a single contract. It involves many contracts in between Mahindra Group and Cisco Systems.

However, after this news, the stock price of the company was up by 7.7%.