Cisco has announced its intent to acquire Jasper Technologies, a privately held company based in Santa Clara that delivers a cloud-based IoT service platform. This platform enables enterprises and service providers to launch, manage and monetize IoT services on a global scale. Cisco will pay $1.4 billion in cash and assumed equity awards, plus additional retention based incentives.
Jasper is one of the industry’s leading IoT service platforms in terms of number of enterprises and service providers; in fact, many of the world’s largest enterprises and service providers are using the Jasper cloud platform to scale their IoT services business globally.
With Jasper, companies can connect any device – from cars to jet engines to implanted pacemakers – over the cellular networks of the top global service providers, and then manage connectivity of IoT cloud services through Jasper’s Software-as-a-Service (SaaS) platform.
IoT brings with it many complexities, such as connecting and securing millions of devices and collecting and analyzing data. Jasper would simplify these challenges and help customers accelerate the shift to IoT. The Jasper IoT cloud service platform automates the management of IoT services across connected devices and enables companies to create new business models that transform their products into connected services and generate new sources of ongoing revenue.
Adding New IoT Services
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, Chief Executive Officer (CEO) of Cisco. “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.”