Cisco makes its first Indian acquisition, buys Banglore-based IT security firm Pawaa

New Delhi: Cisco has acquired its first company in India, IT security firm Pawaa.

Its annual investments in India, totaling around $1.7 billion, are aimed at promoting research and development in the field of technology.

Financial details about Cisco’s first acquisition in the country have not been disclosed.

Pawaa, Banglore-based security firm, offers security solutions and cloud-based file-sharing software.

After the integration, Pawaa founder Prakash Baskaran will be working as Chief Technology Officer for Cisco's security solutions division.

Pawaa was a part of Cisco's Entrepreneur-in-Residence programme in 2014 which extended for six months.