Cisco to acquire Jasper for $1.4 billion
04 February 2016 |
Cisco has announced that it is to acquire IoT firm Jasper Technologies for $1.4 billion in cash and equity awards.
The move would mark Cisco’s largest acquisition since 2013, when it acquired Sourcefire for $2.7 billion, and would significantly strengthen its IoT offering.
Jasper provides cloud-based software to support IoT, and more than 3500 enterprises are said to use the Jasper IoT platform to scale their IoT services business globally.
The proposed acquisition would allow Cisco to offer an IoT solution that is interoperable across devices and works with IoT services, application developers and an ecosystem of partners.
Cisco said that it plans to continue to build upon Jasper’s IoT service platform and add new IoT services such as enterprise Wi-Fi, security for connected devices and advanced analytics.
“I am excited about the opportunity for Cisco and Jasper to accelerate how customers recognize the value of the Internet of Things,” said Chuck Robbins, CEO at Cisco. “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.”
If the move goes ahead, Jasper CEO Jahangir Mohammed will run the new IoT software business unit under Rowan Trollope, Cisco’s SVP and GM of IoT and collaboration technology group.
The acquisition is expected to close in Q3 2016, subject to customary closing conditions.
2h | Alan Burkitt-Gray
3h | Alan Burkitt-Gray