Cisco To Crack The Deal With Jasper; Will Pay $1.4 Billion To Internet-Of-Things


4 February, 2016, USA: In an interesting move, Cisco Systems, a networking tycoon has given a green signal to sign a deal with Jasper, company that aims at providing technology for connecting smart devices to the internet (Called Internet-OF-Things). Since the time of its inception, Jasper has been gaining popularity and appreciation for its work. This is the main reason that the company had managed to allure the investors such as Sequoia Capital, Benchmark and more who recently had invested around US $205 million in the company. Jasper has hit the valuation of US $1 billion, making it an eligible firm to opt for an IPO.

It works on cloud-based control software which assists the companies to connect huge range of machines and equipment, right from vending machines to farming equipment on the Internet. Till now, the company has a long list of 3,500 satisfied clients including GPS company Garmin, greeting card giant Hallmark and the jet engine manufacturing division of GE.

CISCO revealed in a statement that it intends to build upon Jasper’s efforts by adding industrial-grade Wi-Fi and improving its ability to analyze data gathered from devices. Speaking on the development, Rowan Trollope, Senior VP, Cisco said, “Jasper in the industry is viewed as the leading IoT platform. It solves the problems that come about when you attempt to connect at scale and to do it globally. What that means for our customers is that they can connect a car, a jet engine, a pacemaker or an ankle bracelet easily. Many of our customers are looking to transition from offering static products to offering a connected service.”