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Cisco Systems has been added to the Dow Jones Industrial Average as General Motors has of course been removed. Cisco released the following statement via the company blog:

Cisco is honored to be included in the Dow Jones Industrial Average.  We believe our inclusion in the Dow demonstrates not only Cisco’s role as a broad technology indicator, but how remarkably the Internet and networking have transformed the way businesses and consumers connect, communicate and collaborate.

Cisco is the fifth tech company in the index behind IBM, HP, Intel, and Microsoft. According to the Financial Times, Cisco shares rose 5.88% after its inclusion in the Dow.

Citigroup was also removed from the Dow Jones Industrial Average, while insurance company Travelers was added. Cisco will officially be in the Dow on June 8th.

Earlier this year, Cisco talked about how it was launching a multi-billion dollar industry and an initiative to help cities use technology to cultivate sustainable, intelligent industries as well as citizen services and overall economic growth. They call it "Intelligent Urbanization."