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© mikael damkier dreamstime.com Electronics Production | February 04, 2016

Cisco steps up its IoT game with an acquisition

Cisco said on Wednesday that it will acquire Jasper Technologies, a startup based in Santa Clara that delivers a cloud-based IoT service platform.
Under the terms of the agreement, Cisco will pay USD 1.4 billion in cash and assumed equity awards.

With Jasper#s technology, companies can connect any device – from cars to jet engines to implanted pacemakers – over the cellular networks of global service providers, and then manage connectivity of IoT services through its Software as a Service (SaaS) platform.

The proposed acquisition will allow Cisco to offer a complete IoT solution that is interoperable across devices and works with IoT service providers, application developers and an ecosystem of partners. Cisco will continue to build upon the Jasper IoT service platform and add new IoT services such as enterprise Wi-Fi, security for connected devices, and advanced analytics to better manage device usage.

“I am excited about the opportunity for Cisco and Jasper to accelerate how customers recognize the value of the Internet of Things,” said Chuck Robbins, Cisco Chief Executive Officer. “Together, we can enable service providers, enterprises and the broader ecosystem to connect, automate, manage, and analyze billions of connected things, across any network, creating new revenue streams and opportunities.”

Jasper CEO Jahangir Mohammed will run the new IoT Software Business Unit under Rowan Trollope, Cisco senior vice president and general manager, IoT and Collaboration Technology Group. The acquisition is expected to close in the third quarter of fiscal year 2016.

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