Cisco buys cloud-based Internet of Things (IoT) platform developer Jasper Technologies for $1.4 billion in cash and equities--- the networking giant's biggest purchase since 2013.
The Jasper product offering allows companies devices ranging from implanted pacemakers to cars and jet engines to the cloud via cellular networks. In addition the platform automates IoT services management across devices, simplifying the shift to new business models making use of connected services.
The company counts 3500 enterprises as customers, and works with 27 service providers across the world. Post-acquisition Jasper will be turned into a Cisco IoT Software Business Unit run by Jasper CEO Jahangir Mohammed under Cisco senior VP Rowan Trollope.
“I am excited about the opportunity for Cisco and Jasper to accelerate how customers recognize the value of the Internet of Things,” Cisco CEO Chuck Robbins says. “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.”
The IoT is the next big thing in IT, at least according to the industry's biggest players-- IBM, GE and Microsoft, among others, are already investing IoT initiatives.
