Cisco Systems intends to purchase Jasper Technologies Inc., a cloud-based Internet of Things (IoT) service platform provider, for $1.4 billion in cash and assumed equity awards. The move would give Cisco access to Jasper’s IoT service platform that is currently being used by enterprises and service providers to scale their IoT services business worldwide.
Jasper’s technology allows companies to connect any device—from automobiles, to jet engines, to implanted pacemakers—to Jasper’s software as a service (Saas) via cellular networks and then manage connectivity of IoT services. Cisco says Jasper’s Saas platform provides a predictable, recurring revenue stream from IoT business that will drive a wide range of connected devices and services to more than 3,500 enterprises globally. Furthermore, the acquisition will allow Cisco to bring a complete IoT solution to market that is interoperable across devices and works with IoT service providers, application developers and an ecosystem of partners, Cisco says.
Future iterations of the SaaS platform will add new IoT services such as enterprise Wi-Fi, security for connected devices and advanced analytics to better manage device use, Cisco says. “IoT has become a business imperative across the globe. Enterprises in every industry need integrated solutions that give them complete visibility and control over their connected services, while also being simple to implement, manage and scale,” says Jahangir Mohammed, Jasper CEO. The combination of Jasper and Cisco will accelerate these integrated offerings, Mohammed says.
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