Cisco to Buy Jasper in $1.4 Billion 'Things' Push
February 03 2016 - 5:31PM
Dow Jones News
By Don Clark
Cisco Systems Inc. said it will pay $1.4 billion in cash to buy
Jasper Technologies Inc., one of best-known startups pursuing the
technology trend known as the Internet of Things.
The closely held company, founded in 2004, works with cellular
carriers and other partners to help customers connect and manage
vehicle fleets, industrial equipment and other systems involving
networks of sensors.
Cisco, the biggest maker of networking equipment, has long
promoted the trend dubbed IoT as the next major phase in the
evolution of the Internet. The company said Jasper will operate
largely independently as part of a new IoT software business unit,
which will report to Rowan Trollope, a Cisco senior vice president
who also oversees Cisco collaboration technologies.
"We believe that together we are going to be able to move this
industry forward a lot faster," said Rob Salvagno, Cisco's vice
president of corporate development.
Jasper is based in Santa Clara, Calif., not far from Cisco's
headquarters in nearby San Jose. It has about 385 employees and has
3,500 customers in more than 100 countries, Mr. Salvagno said.
(END) Dow Jones Newswires
February 03, 2016 17:16 ET (22:16 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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