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Cisco’s Big Bet on IoT, Acquires Jasper for $1.4 Billion

Cisco has announced its intent to acquire Jasper Technologies, Inc., a privately held company based in Santa Clara, which provides a cloud-based IoT service platform helping 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 for Jasper, currently the industry’s leading IoT service platform in terms of number of enterprises and service providers.

“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,” says Chuck Robbins, Cisco’s Chief Executive Officer.

Cisco is one of the most aggressive IoT investors globally, with over 50 companies in its portfolio.

By CircleID Reporter

CircleID’s internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us.

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