Cisco announced it has reached an agreement to buy Jasper Technologies, Inc., a leader especially for its Saas (software as a service) cloud platform for the Internet of Things. The price is $1.4 billion to be paid part in cash and part in equity awards, and additional retention incentives for Jasper employees who join Cisco. Jasper should keep on being almost independent as part of the new Cisco’s Internet of Things business unit.
Jasper Technologies is a company based in Santa Clara, California, founded in 2004 originally as Jasper Wireless, Inc. offering solutions for wireless devices and the cloud. Over the years it has become a pioneer in the field of the Internet of Things and in 2014 changed its name to its current one, a choice that represents the new service offering.
Today Jasper is a pioneer in the development of solutions for the Internet of Things and works with over 3,500 companies, including big ones, around the world. It’s for these reasons that Cisco has decided to buy it investing a considerable sum of money.
In the press release announcing the agreement, many complexities that are coming with the Internet of Things are mentioned, in particular the devices’ connection and security. Computer security is one of the fields where Cisco works and now the company will have access to the platform of a company leader in offers for the Internet of Things.
Jahangir Mohammed, Jasper CEO, will direct the Cisco’s Internet of Things software business unit, which will work under Cisco’s IoT and Collaboration Technology Group. With this acquisition, the company expects a strong help in affirming in this new market.
The Internet of Things is one of the fields that has recently started a very strong growth. The predictions for the coming years are of a world in which ordinary people will control their washing machine and companies managers will control their equipment via the Internet using a mobile device. The possibilities are growing considering for example the development of self-driving cars that could be sent anywhere with a click.
According to Cisco, the market value of the Internet of Things will reach $19 trillion in the next decade and the competition will be fierce. Jasper was already prepared to be a leader of this new revolution. Cisco’s investment definitely looks good.
