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Stop CPP investments in firms selling military, police, spy
or prison-related products to Israel


in 2011

$52 million

This is the online version of
Profiting from Israeli Apartheid:
Canada Pension Plan (CPP) Investments in Corporations Supporting Israel’s Military-, Police-, Surveillance-, Prison-Industrial Complex (Part 1)"
(Here's a coupon to subscribe, renew, order copies or make a donation to COAT.  To pay online, use the "Transfer Funds" button at the COAT homepage.)

Investments in Cisco by other
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Total = $298,465,000

Using the pretentious slogan, "Welcome to the human network," this US computer electronics and communications company has acquired US$87 billion in assets.

The company prides itself on having been declared one of the "World’s Most Ethical Companies" in 2011. And, while Cisco has publicly adopted the "UN Global Compact," including the vow to ensure that they "are not complicit in human rights abuses," its products are thoroughly integrated into countless military systems throughout the high-tech arsenals of the US, Israel and many other allied countries.

A Cisco promotional brochure entitled "Enabling the Global Defense Mission," boasts that its Global Government Solutions Group is "a team of top experts from space, military, homeland security, and public safety from all levels of government," whose staff "supports governments and defense agencies around the world."

Cisco has been deeply involved in Israel’s high-tech sector since at least 1997 when it established an R&D centre there and began investing in Israeli electronics companies. For example, when Cisco raised US$57 million for Israel’s CyOptics Inc. in 2000, it became this start-up’s lead funder. CyOptics makes "custom ruggedized RF [Radio Frequency] and fiber-optic components and modules for the Defense and Aerospace markets."

The Israeli military’s reliance on Cisco was acknowledged in 2008, after the FBI began "investigating reports that counterfeit Cisco equipment had been installed in networks at US government agencies and in the military." Because it was thought to contain a "back door" allowing outside access to supposedly-secure networks, the US Justice Department reportedly seized US$80 million worth of equipment.

Within a few weeks of this scandal, Cisco’s Executive Vice President Randy Pond went to Israel and "met defense officials." Israel’s business paper, Globes, reported that the Israeli "Ministry of Defense and the defense establishment are important Cisco customers in Israel" and said that Pond’s visit was "intended to explain to large Israeli customers, especially the IDF [Israeli Defense Forces], about the counterfeit equipment."

One of Cisco’s "large Israeli customers" is Rafael, Israel’s Armament Development Authority. (See "State-owned Israeli War Industries.") Globes reported in 2002 that Cisco’s "optical switches" are used to "enable transmission of large amounts of data" in "specialized military communications equipment" made by Rafael. Rafael’s website says it uses Cisco’s Catalyst 2955 hardware in its "Military Tactical Ethernet Switch" for computer networks in "armored vehicles, shelters, [and] naval vessels."

In 2009, Cisco was linked to a seven-year investigation by Israel’s military into officials who leaked information to certain US firms that were bidding for Israeli contracts. Israel’s Haaretz newspaper said the probe involved top Israeli military representatives in the US who "leaked sensitive information from the closed bids made by companies participating in the tenders to companies they favored, helping them win the contracts."

Cisco was the first firm listed in the Haaretz story on this corruption scandal. Other US computer companies that the paper listed as being involved in supplying Israel’s military included EMC and Hewlett-Packard (HP). The Haaretz coverage also noted that Cisco and others were providing technology and software "for [Israeli] Military Intelligence units involved in signals intelligence and encryption, as well as for the [Israeli] air force and other units."



COAT research (published in Issues 66 and 67 of Press for Conversion!) exposes that in 2011 the CPP owned about $1.5 billion worth of shares in 68 corporations supplying Israel with military, police, surveillance and prison-related products.

To read COAT's research on the first half of
these 68 companies, click the pdf links below
to see the print version of Issue 66.  Or, click
each company name for the web version.)
(Articles on the second set of 34 companies
are in Issue #67 of Press for Conversion!):

pdf  3M Co
Amdocs Ltd
pdf  Analog Devices Inc

pdf  AT&T
pdf  BAE Systems
pdf  Bank Hapoalim
pdf  Bezeq
pdf  Bharat Electronics Ltd
pdf  CAE Inc
pdf  Carlyle Group
pdf  Caterpillar Inc
pdf  Cellcom Israel
pdf  Cemex
pdf  Cisco Systems
pdf  CRH plc
pdf  Daewoo Engineering & Construction
pdf  Daimler AG
pdf  Delek Group
pdf  Dell Inc
pdf  Discount Investment Corp
pdf  Doosan Corp
pdf  Eaton Corp
pdf  Elbit Systems
pdf  EMC Corp
pdf  Evraz Group
pdf  Fiat Industrial
pdf  Fiat SpA
pdf  Finmeccanica
pdf  Fujitsu Ltd
pdf  Hewlett-Packard Co
pdf  Hitachi Ltd
pdf  Honeywell International
pdf  Hyundai Motor Co
pdf  Hyundai Heavy Industries

Additional resources from this issue:
Israeli Spy Companies:
Verint and Narus

State-owned Israeli War Industries:
, IMI and Rafael

Vertex Venture Capital:
Investing in Israeli High-Tech Companies

Table listing CPP Investments


Table listing CPP Investments worth $1.5 billion in 66 companies supporting Israel's military, police, surveillance, prison-industrial complex.

Table listing additional investments totalling $4.5 billion by six large Canadian pension funds (including CPP) in the 66 companies researched by COAT.

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"Cisco Reports 2011 Earnings." Cisco Systems, August 10, 2011.

2011 World’s Most Ethical Companies

Human Rights

"Cisco: Enabling the Global Defense Mission."

US Companies with Investments in Israel

Foreign investment In Israeli equities [2002-2006], Globes

Foreign investment In Israeli equities [2007-2011], Globes

Bruce Manning and Hava Volterra, "CyOptics Inc. Raises $57M From Cisco, Corning, Intel & Vitesse," October 4, 2000.

Design & Manufacturing for Defense & Avionics

Dror Marom, "Rafael to spend NIS 10m on Netcom and Cisco optical communications equipment," Globes, August 28, 2002.

Military Tactical Ethernet Switch

"[Israeli] Defense Ministry not worried by FBI Cisco probe," Globes, April 28, 2008.

Yossi Melman, "Did Israeli officials help US firms win security tender?" Haaretz, Jan. 1, 2009.