San Jose, Feb 3, 2016: IT major Cisco today announced its intent to acquire Jasper Technologies, Inc., a privately held company 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 US $1.4 billion in cash for the US-based company, along with 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. 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 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 simplifies these challenges and helps customers accelerate the shift to IoT. The Jasper IoT 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.
Jasper develops and provides a SaaS platform with a predictable, recurring revenue IoT business that manages and drives a wide range of connected devices and services for more than 3500 enterprises worldwide, working with 27 service provider groups globally.
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 WiFi, security for connected devices, and advanced analytics to better manage device usage.
Chuck Robbins, Cisco Chief Executive Officer, said in a written statement, “Together, we can enable service providers, enterprises and the broader ecosystem to connect, automate, manage, and analyse billions of connected things, across any network, creating new revenue streams and opportunities.”
“IoT has become a business imperative across the globe. Enterprises in every industry need integrated solutions that give them complete visibility and control over their connected services, while also being simple to implement, manage and scale,” said Jahangir Mohammed, Jasper Chief Executive Officer. “By coming together, Jasper and Cisco will help mobile operators and enterprises accelerate their IoT success.”
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, subject to customary closing conditions.
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