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Cisco to buy Jasper IoT platform for USD 1.4 bln
2016-02-04 08:19:00| Telecompaper Headlines
(Telecompaper) Cisco has agreed to acquire Jasper Technologies, the US-based developer of a cloud-based platform for offering IoT services. Japser's platform is used by telecom operators to launch, manage and monetize IoT services over mobile networks. Under the terms of the agreement, Cisco will pay USD 1.4 billion in cash and assumed equity awards, plus additional retention-based incentives. 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 said it 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. Jasper CEO Jahangir Mohammed will run the new IoT Software Business Unit at Cisco.
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Category:Telecommunications