Cisco Systems announces intent to acquire Jasper Technologies

Cisco Systems acquisition will bring together connectivity, security, automation and real-time insights for a complete IoT service solution.

cisco systemsCisco Systems (NASDAQ: CSCO) announced its intent to acquire Jasper Technologies, Inc., a privately held company based in Santa Clara that delivers a cloud-based IoT service platform to help enterprises and service providers launch, manage and monetize IoT services on a global scale. Under the terms of the agreement, Cisco will pay $1.4 billion in cash and assumed equity awards, plus additional retention based incentives.

Jasper is the industry’s leading IoT service platform 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 platform to scale their IoT services business globally.

IoT brings with it many complexities, such as connecting and securing millions of devices and collecting and analyzing data. Jasper simplifies these challenges and helps customers accelerate the shift to IoT.

The proposed acquisition, which is expected to close in the third quarter of fiscal year 2016, subject to customary closing conditionswill 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. 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.” said Chuck Robbins, Cisco Chief Executive Officer.

By coming together, Jasper and Cisco will help mobile operators and enterprises accelerate their IoT success.” said Jahangir Mohammed, Jasper Chief Executive Officer.