Cisco acquires Pawaa
Networking equipment giant Cisco has acquired the
Banaglore –based IT Security firm Pawaa Software Pvt. Ltd for an undisclosed
amount. It’s the first acquisition of Cisco in India. As part of the deal the
entire Pawaa team will join Cisco’s Software Platform Group and the founder
Prakash Baskaran will be appointed as Chief Technology Officer for Cisco’s
security solutions division. Prakash, a serial entrepreneur who founded five
tech companies viz, eResults, Turbo Career Software Services and Springtel in the
areas of VoIP services, HR/CRM solutions and B2B marketplaces founded Pawaa in
2007. Prakash holds an MS from University of Akron and an MBA from Southern
Methodist University, Dallas. Pawaa was part of Cisco Entrepreneurs in
Residence (Cisco EIR) in 2014, an incubation programme supporting early-stage
business-to-business companies. It supports entrepreneurs working on disruptive
technology ideas in the fields of Big Data analytics, cloud computing,
enterprise security and smart cities. 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,” he added.
(http://www.thestartupjournal.com)
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