Cisco CEO John Chambers doesn’t mince words when asked about the rapid transition of enterprise clients towards services that run in the cloud.
« Of the top 5 or 6 [top IT] players today, only 1 will exist in 5 years, » Chambers told Fortune’s Andy Serwer at Brainstorm Tech 2014 — a bold reference that presumably includes competitors HP [fortune-stock symbol= »HPQ »] and IBM [fortune-stock symbol= »IBM »]. Even more dire, he predicted that just one-third of all major enterprise companies will exist in 25 years, becoming casualties in what he recently called a « brutal consolidation » of IT. As more businesses and organizations migrate, they rely more and more on networking solutions like those offered by newer services like Rackspace [fortune-stock symbol= »RAX »].
The Cisco CEO wasn’t all doom and gloom, however. Over the last 2 years, Cisco [fortune-stock symbol= »CSCO »]. has set some extremely high goals for itself, including becoming the #1 IT company. It…
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