10:23 AM EDT, 05/30/2024 (MT Newswires) -- Cisco Systems ( CSCO ) and Lenovo said Thursday they have signed a partnership to develop networking and infrastructure product offerings for business customers.

Under the memorandum of understanding, the companies are expecting to share design, engineering and manufacturing responsibilities for hardware, software and related services intended to accelerate digital transformations at businesses of various sizes.

Lenovo and Cisco ( CSCO ) also expect to work on new artificial intelligence-enabled enterprise platforms and said their collaboration will similarly build on a sizable group of shared channel partners with knowledge of the companies' combined technologies.

Financial terms of the partnership were not disclosed.

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