Cisco has completed its acquisition of Jasper, a privately held Internet-of-Things(IoT) platform provider based in Santa Clara, California. With the $1.4 billion acquisition, Jasper forms the new IoT Cloud Business Unit within Cisco.
Together, Cisco and Jasper will bring to market a comprehensive IoT service platform to enable service providers, enterprises and ecosystem partners to rapidly build IoT service businesses such as usage-based insurance for connected cars, predictive maintenance for industrial manufacturing, and asset tracking for commercial fleet management.
According to Cisco, Jasper will continue to deliver on Jasper’s product roadmap and support Jasper’s existing ecosystem partners. Cisco will also build upon Jasper’s IoT service platform and add new services including advanced IoT security, support for additional connectivity options like enterprise Wi-Fi and low-power wide-area network (LPWAN), and analytics.