Cisco Systems

RANK221

The cloud on the horizon for Cisco is, well, the cloud. The networking giant faces continued challenges selling switches and routers as many businesses turn to cloud computing. Underscoring the point: Sales dropped 5% year over year to $49.3 billion in the company’s most recent fiscal year, ended July 25, 2020. To revive growth, Cisco went on a spending spree. In December, Cisco said it would buy communications software firm IMImobile for $730 million in a bid to bolster its WebEx videoconferencing and contact center business. A month later, Cisco agreed to acquire optical communications company Acacia Communications for $4.5 billion to boost its networking tech.