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Cisco’s Chambers Affirms Revenue Target Amid Expansion

Cisco Systems Inc. Chief Executive Officer John Chambers affirmed the company’s long-term revenue growth target of 5 percent to 7 percent as he expands software and services to lessen reliance on routers and switches.

Cisco, the world’s largest maker of computer networking equipment, is looking for new markets amid intensifying competition from rivals such as Juniper Networks Inc., Hewlett-Packard Co. and Arista Networks Inc. A central part of that effort has been the acquisition of software and services companies with strong recurring sales and profit margins.