& cplSiteName &

Cisco Buys IoT Cloud Provider Jasper for $1.4B

Mitch Wagner
2/3/2016
50%
50%

Cisco said Wednesday it has agreed to acquire Jasper Technologies, a privately held company that delivers a global, cloud-based Internet of Things service platform for enterprises and service providers, for $1.4 billion.

Cisco Systems Inc. (Nasdaq: CSCO) claims Jasper Technologies is the leading IoT service platform in terms of the number of enterprise and service provider users.

Jasper allows companies to connect any device -- "from cars to jet engines to implanted pacemakers" -- via the cellular networks of global service providers and manage connectivity through Jasper's SaaS platform, the companies said in a joint press release. (See Cisco Announces Intent to Acquire Jasper Technologies for IoT.)

Jasper helps customers connect and secure devices and collect and analyze data from connected devices, the vendors added.

Jasper's SaaS platform provides predictable, recurring revenue for more than 3,500 enterprises and 27 service providers globally, according to the companies.

Cisco says it will augment the IoT platform with enterprise WiFi, security and advanced analytics.

Jasper CEO Jahangir Mohammed will run the new IoT Software Business Unit under Rowan Trollope, Cisco senior VP and general manager, IoT and Collaboration Technology Group.

The acquisition is expected to close in the third quarter, subject to customary closing conditions. Cisco will pay for the purchase with a mix of cash and assumed equity awards, plus retention-based incentives.

Related posts:

— Mitch Wagner, Circle me on Google+ Follow me on TwitterVisit my LinkedIn profileFollow me on Facebook, West Coast Bureau Chief, Light Reading. Got a tip about SDN or NFV? Send it to wagner@lightreading.com.

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
From The Founder
John Chambers is still as passionate about business and innovation as he ever was at Cisco, finds Steve Saunders.
Flash Poll
Upcoming Live Events
September 12, 2018, Los Angeles, CA
September 24-26, 2018, Westin Westminster, Denver
October 9, 2018, The Westin Times Square, New York
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 6, 2018, London, United Kingdom
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
All Upcoming Live Events
Hot Topics
T-Mobile to Play the Customer Care Card With Layer3 TV
Jeff Baumgartner, Senior Editor, Light Reading, 8/15/2018
Dish CTO Hops Over to Liberty Latin America
Jeff Baumgartner, Senior Editor, Light Reading, 8/21/2018
Amazon Cooking Up DVR for Fire TV – Report
Jeff Baumgartner, Senior Editor, Light Reading, 8/20/2018
Animals with Phones
Live Digital Audio

A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

Like Us on Facebook
Twitter Feed