Cisco moves into London's Silicon Roundabout - report

US tech giant follows $1bn UK investment pledge with new London property lease

Cisco has leased a property in Silicon Roundabout totalling 27,320 sq ft, according to Property Week.

The report comes after Cisco promised $1bn (£637m) in UK investments over the next three to five years, which will include acquisitions of British firms and investment in education programmes.

Cisco, which already has UK offices in Reading, Manchester and London, said last month it will add another "state-of-the-art office" in London before the end of the year, which would create 200 new jobs. The company claims to employ about 7,000 staff in the UK.

Now Property Week is reporting that Cisco has reached a deal to lease two floors in London's Silicon Roundabout.

Cisco's investment in the UK follows similar schemes in France, where it recently spent $100m, and reports have indicated equivalent projects are planned for Germany.