Cisco Systems, the American multinational company headquartered in San Jose, California plans to buy Jasper Technologies, a company that provides a cloud-based platform for the Internet of Things (IoT) for $1.4 billion.
In layman terms, IoT means connecting devices to one another over the internet, so that they can communicate each other. This could range from a connected car, appliances, or other electronics over cellular networks, which can be managed through software.
Jasper Technologies provides the platform to build these connected devices. Jasper has over 3500 enterprise customers and 27 service providers across 100 countries. It has major client base including, AT&T, China Unicom, Claro, 02, KPN and NTT DoCoMo. Last year, the company provided software for AT&T’s connected car solutions.
Cisco’s Jasper acquisition will close in few months. After the merger, Jasper’s Chief Executive Officer Jahangir Mohammed will run Cisco’s IoT business.
“We’ve pioneered a platform that enables companies around the world to transform from a product company to a service company,” Mohammed explains in a video on his company’s website. “It is easy to be imaginative when you’re talking about the ‘Internet of Things,’ and many people out there paint a pretty amazing picture of what the world is going to be after the ‘Internet of Things’ really takes off. The thing that’s different about us is we are in the trenches already doing this.”