$1.4 billion acquisition will help Cisco transition into software company.
Last week Cisco announced it acquired Jasper Technologies, a company that developed a cloud-based IoT platform to manage fleets of IoT devices.
The move, which cost Cisco $1.4 billion, is expected to help the company move forward in its transition into a software company. In their press release announcing the acquisition, Cisco explained that Jasper allows companies to connect any device, from jet planes to tiny sensors, over cellular networks from the world’s top providers and then launch, monetize and manage them through the cloud-based control center.
Related: Microsoft launches Azure IoT hub
In a letter on the company’s website, Jasper CEO Jahangir Mohammad said their IoT platform powers deployments in over 3,500 companies and processes over 350 million automated actions a month. The company explained Jasper will become Cisco’s new IoT Software Business Unit, run by Mohammed and his team.
“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,” said Mohammed. “By coming together, Jasper and Cisco will help mobile operators and enterprises accelerate their IoT success.”
In a blog post on Cisco’s site, Rob Salvagno, vice president of corporate business development and head of M&A, said the acquisition is “all about making IoT simple, scalable and interoperable.”
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