Cisco (CSCO - Free Report) recently announced partnership with The Walt Disney Company (DIS - Free Report) . The announcement was made at Cisco’s Advanced Imaging Society conference, XR On the Bay. The company will support The Walt Disney Studios as “a founding member and Innovation Partner” to bolster StudioLAB (“SLAB”) initiative.
SLAB aims to build upon advanced technology which enhances the prototypes and designs enhancing video production. SLAB campus is spread across 3,500 square foot area is proposed to be developed in Burbank on the famous Disney studio space.
Cisco remains well poised to gain a competitive edge by developing technology to enhance entertainment experience. Notably, the company has returned 37.2% in the past year outperforming the industry’s rally of 34.3%. The outperformance can primarily be attributed to its expanding footprint in the rapidly growing security market among other initiatives in emerging technologies.
Focal Points of the Collaboration
Cisco’s software and hardware offerings will boost the SLAB project by providing advanced collaboration, storage, orchestration and network facilities. The collaboration is also aimed at delivering effective ways to convey production assets and data from the studio set to the cloud.
"This partnership is a game changer for the media industry, and we are excited for the opportunity to work closely with The Walt Disney Studios team to prototype, develop and showcase new technology at StudioLAB. This will be the place where true innovation comes alive in media entertainment," said David Ward, senior vice president, CTO and chief architect, Cisco.
We believe this is a big customer win and Cisco will benefit a great deal from the collaboration by stepping up its game in media and entertainment industry.
In early March this year, Accenture (ACN - Free Report) had announced that The Walt Disney Studios selected the company for SLAB initiative. Given that Cisco services were preferred in its stead is a positive for the company.
Zacks Rank & Key Picks
Cisco carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology sector is Micron Technology Inc. (MU - Free Report) , flaunting Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. The projected long-term earnings growth rate for Micron is approximately 8.2%.
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