Cisco has committed its future to the Internet of Things (IoT) with its $1.4 billion acquisition of IoT cloud platform specialist Jasper Technologies, a move that also reaffirms Cisco’s move away from hardware and towards the cloud.
A privately held company based in Santa Clara, Jasper delivers a cloud-based IoT service platform to help enterprises and service providers launch, manage and monetise IoT services on a global scale. Under the terms of the agreement, Cisco will pay $1.4 billion in cash and assumed equity awards, plus additional retention based incentives.
Jasper has been on the radar of many potential suitors for a few years now, as the owner of the industry’s leading IoT service platform in terms of number of enterprises and service providers.
Many of the world’s largest enterprises and service providers are using the Jasper platform to scale their IoT services business globally. 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.
One of the challenges the Jasper platform overcomes is the difficulty in connecting and securing millions of devices, and collecting and analyzing that data. Jasper simplifies these challenges and helps it customers accelerate the shift to IoT by automating the management of IoT services across connected devices and enables companies.The proposed acquisition will allow Cisco to offer a complete IoT solution that is interoperable across devices, and that 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 Wi-Fi, security for connected devices, and advanced analytics to better manage device usage.
“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, Cisco CEO. “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.”
Jahangir Mohammed, Jasper CEO, added: “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. By coming together, Jasper and Cisco will help mobile operators and enterprises accelerate their IoT success.”