In its bid to strengthen its position in India, leading technology company— Cisco has made its first acquisition in the country by taking over a Bengaluru-based IT security company— Pawaa for an undisclosed amount. It is the first ever direct acquisition by Cisco in the country.
According to reports, Cisco has decided to merge Pawaa, which provides security solutions and cloud-based file-sharing software with the former’s Software Platform Group. Cisco has appointed Pawaa’s founder Prakash Baskaran as its Chief Technology Officer for security solutions division. Sources said Cisco will keep continue investing/ acquiring, more such innovative companies in this segment.
Pawaa became a part of this six-month programme at Cisco’s San Jose campus in 2014, after which the later decided to acquire the company’s capabilities in providing policy-based data flow between business systems and people.
Cisco’s investment wing has already put money in a number of Indian companies, like Covacsis, MobStacs and MobiKwik. The multinational technology company invests USD 1.7 billion a year in India to improve its research and development capabilities.
If sources are to be believed, global companies are now coming up big plans and looking to India for high-end engineering talent and acquire companies here in the country.