On Tuesday, Chief Executive of Cisco, John Chambers shared that the technology and computer switching giant will now be changing from the Internet's "plumber to a platform and provider of products for online work and leisure".

"There is a window of opportunity where the network will become the key enabler of IT and of communications. That is where we can become the Number One IT and communications company", said Mr. Chambers, while giving a presentation to financial analysts at the company's San Jose, California headquarters.

Cisco has, over the years, essentially built its fortune by focusing mainly on Internet's "plumbing", providing routers and switches for computing and networking, it is now taking on an all new role and looking to capitalize on popular current trends like "online video and software offered as services in the cloud".

"We were very good at plumbing. We were in the right spot at the right time. The network is the platform for the IT of the future", Mr. Chambers stressed.

Cisco, which has managed to be one of the very few firms which have actually stood firm during the global recession, has made various acquisitions this year alone, including purchasing Hong Kong-based DVN Holdings Ltd, a leading maker of set-top boxes, for $44.5 Million and Pure Digital Technologies, maker of the hot-selling Flip Video camcorder, among various others.

With these expansions, the company is positive that the new roles that it is taking on will now be successful.