The French groups CAP GEMINI and the American CISCO announced a joint venture specialised in telecommunications and media. CAP GEMINI will control the new company with 95.1% of the capital, while CISCO will invest EUR 170 million to control the remaining 4.9%. Furthermore, the American group will buy 2.6 million shares from CAP GEMINI for EUR 700 million. The joint venture will have a minimum turnover of EUR 900 millions as of the 2000 financial year and will have 4,600 employees.