Cisco has announced that it intends to purchase Jasper Technologies, Inc. for $1.4 billion. Jasper has developed a specialized platform for cloud-based IoT management and it also as an extensive customer base.
Jasper provides cloud-based platforms that help companies manage Internet of Things services, connecting a wide variety of devices through cellular networks and then managing connectivity and collecting data through their Software as a Service (SaaS) platform. Customers can access their IoT data through a specialized Control Center.
Jasper has 3,500 customers, including the GPS company Garmin, greeting card giant Hallmark and the jet engine manufacturing division of GE.
Cisco will also retain Jasper CEO Jahangir Mohammed to run the new IoT software business unit at Cisco.
Cisco purchased OpenDNS last year. The company provides security services. The $635 million acquisition of OpenDNS, added additional cloud security abilities to Cisco’s existing security systems.
Cisco estimates IoT value potential in the world economy to be $19 trillion in 2022.