Cisco acquire cloud services provider Jasper Technologies for 1.4 billion USD

Cisco

CiscoThe US IT giant Cisco announces acquisition of Jasper Technologies, which is provider of cloud platform SaaS (Software as a Service) solutions in the segment Internet of Things (IoT). The platform of Jasper can connect virtually any smart device. The service SaaS enables simplified management of multiple IoT devices and comprehensive analysis of statistical data related to the platform solutions. The value of transaction is 1.4 billion USD, but need approval from the Board of Directors of the both companies.

“What Jasper is doing is providing a platform to build these connected devices and deliver them to market much faster and with less friction”, said the CEO of Jasper Technologies, Jahangir Mohammed. “What these systems do is generate tons of data and that requires a platform to process, manage and understand all of that data being fed by these devices. The cloud is a particularly smart play for this level of (big) data because companies can scale as much as they need as the amount of data grows”, added he.

Currently the services of Jasper Technologies are used by over 3500 companies worldwide. With the acquisition of the company, Cisco will strengthen its position in the promising segment IoT. With this acquisition Cisco is making a big move into software and this move makes sense in the context of the company’s core networking strength.

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Viliyana Filipova
My name is Viliyana Filipova and I’m working as content writer and analyst of Business News Feeds Journal. I'm writing about finance statements, business analyze and employment for Central and Eastern Europe, Russia and Middle East.

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