Cisco acquires 5 firms

Networking equipment giant Cisco Systems acquired five Indian-founded companies for almost $700 million during 2005, the study revealed.

Ajay Mishra co-founded Airespace, a San Jose, CA-based provider of enterprise wireless LAN products, was acquired by Cisco Systems for about $450 million in February.

Founded in 2001, Airespace had raised $58 million from Battery Ventures, Fidelity Ventures, Norwest Venture Partners, Storm Ventures, Hotung Capital and KTB Ventures.

Cisco Systems' shopping list also included Sheer Networks, FineGround Networks, NetSift and Nemo Systems.