Cisco announced today that it has opened a new office near London’s Silicon Roundabout, doubling its footprint in Central London.
The news comes a day after estate agents Knight Frank said technology companies are now taking up more office space in London than banks and law firms, pointing to big office moves from companies like Facebook, Twitter, and Google.
Cisco, a Silicon Valley networking giant founded in 1984, said the new 27,320 sq ft office at 10 Finsbury Square will accommodate over 300 people.
The office is based in between trendy Old Street, home to many of the startups that Cisco wants to work with, and slightly more corporate Moorgate.
The company said it will house a major part of Cisco’s cloud-based technology division, which is largely focused on mobility and security. It includes Meraki Networks, one of the fastest-growing business areas within Cisco since it was acquired in 2012.
The new London location is in addition to the Finsbury Circus office that was opened in 2009.
Cisco’s former CEO John Chambers said in July that Cisco would invest over $US1 billion (£660 million) in the UK over the next three to five years.
The company’s UK operations started in High Wycombe in 1992 but it has expanded across the country since then.
Beyond its two Central London offices, Cisco’s UK business houses around 5,000 people in corporate, sales and technical functions across 14 locations, including Manchester, Edinburgh and Chandler’s Ford, with the 267,000 sq ft Bedfont Lakes (Feltham) site Cisco’s UK HQ.
Phil Smith, chief executive of Cisco UK & Ireland, said: “To support our continued growth in the UK, we have secured space in this exceptional building giving us the capacity to hire new employees in London in the coming years.
“At Cisco we are committed to supporting the UK as it undergoes its own country digitisation process. Investment in a sophisticated and forward-thinking IT network ecosystem is important to ensure the UK has the technological backbone to deliver greater connectivity, productivity and security, which are essential to realise the full potential of any digitisation programme, be that for a government, or a business.”
NOW WATCH: The 19-year-old Instagram model who quit social media says haters are just proving her point
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.