News: Cisco makes annual investments totaling around $1.7bn in India, most of which is aimed to promote research and development.
Cisco has acquired India-based IT security firm Pawaa, marking its first direct acquisition in the country.
Financial details about the transaction have not been disclosed.
Based in Bangalore, Pawaa offers security solutions and cloud-based file-sharing software.
Cisco executive vice-president and chief development officer Pankaj Patel was quoted by The Hindu Business Line as saying: "Security is a bigger opportunity for India than IT.
"There is a shortage of hundreds of thousands of security professionals globally and India can solve that problem."
Following its integration with Cisco’s Software Platform Group, 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 a six month period.
The programme was aimed to support early-stage entrepreneurs who were involved in technology works for big data analytics, smart cities, cloud computing and enterprise security among others.