Cisco to buy IoT logistics provider Jasper Technologies
February 4, 2016
Cisco has announced it is buying logistics and enterprise IoT cloud provider Jasper Technologies. Cisco is paying $1.4 billion in cash for Jasper.
Jasper provides a cloud based integration platform for integrating enterprise IoT applications and enterprise data. The company also provides applications for transportation and logistics. The company's Control Center cloud based platform provides fleet management, asset tracking, and navigation functions.
Jasper develops and provides a SaaS platform with a predictable, recurring revenue IoT business that manages and drives a wide range of connected devices and services for more than 3500 enterprises worldwide, working with 27 service provider groups globally.
The proposed acquisition will allow Cisco to offer a complete IoT solution that is interoperable across devices and 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 Chief Executive Officer. “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.”
“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 Jahangir Mohammed, Jasper Chief Executive Officer. “By coming together, Jasper and Cisco will help mobile operators and enterprises accelerate their IoT success.”
Jasper CEO Jahangir Mohammed will run the new IoT Software Business Unit under Rowan Trollope, Cisco senior vice president and general manager, IoT and Collaboration Technology Group. The acquisition is expected to close in the third quarter of fiscal year 2016, subject to customary closing conditions.