Cisco in $1.4 billion IoT deal for Jasper

Cisco Systems said Wednesday that it will acquire Jasper Technologies, a private Santa Clara cloud company used by businesses and telecoms, for $1.4 billion.

“We are super-excited at the prospect of what we could do in partnering with Cisco,” said Jasper CEO Jahangir Mohammed. “My team is thoroughly enthusiastic and we are looking forward to what the future holds.”

Mohammed will run Cisco’s new Internet of Things software business unit under Cisco Vice President Rowan Trollope.

The acquisition is yet another move by Cisco in its effort to ramp up its technology prowess for the burgeoning Internet of Things.

Cisco CEO Chuck Robbins said in a statement that the deal gives Cisco and Jasper a chance to accelerate Cisco’s offerings in the Internet of Things. “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,” Robbins said.

Jasper is a leading service platform for the Internet of Things, with more than 3,500 business customers. Its platform lets users connect to any device — “from jet engines to implanted pacemakers” — according to the news release announcing the deal.

In a conference call, Trollope said Cisco has an employee retention pool for Jasper employees. “People are the most important thing behind every acquisition so we’re really focused on making this an attractive opportunity for the Jasper team,” he said.

The acquisition is expected to close in the third quarter of this year.

Cisco recently announced a strategic partnership with Ericsson, a Swedish mobile communications giant.

Photo: Cisco logo (Paul Sakuma, AP)

 

Tags: , , ,

 

Share this Post



 
 
 
  • Bill Ott

    Cisco is lost and needs direction.

 
 
css.php