Cisco To Buy Jasper Technologies - Quick Facts

(RTTNews) - Cisco (CSCO) announced its intent to acquire Jasper Technologies, Inc., a privately held company based in Santa Clara that delivers a cloud-based IoT service platform. Cisco will pay $1.4 billion in cash and assumed equity awards, plus additional retention based incentives.

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.

Cisco said the proposed acquisition will allow it to offer a complete IoT solution that is interoperable across devices and works with IoT service providers, application developers and an ecosystem of partners. 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.