Deals
Cisco to Buy Jasper for $1.4 Billion, Adding IoT Management
- Closely held company helps connect new devices to Internet
- Cisco's Robbins pushes beyond networking with cloud offerings
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Cisco Systems Inc., the largest maker of networking equipment, said it will acquire closely held Jasper Technologies Inc. for $1.4 billion, bolstering its offerings in the growing market for technology that lets people manage devices like jet engines and vending machines over the Internet.
Jasper’s products let customers connect appliances, electronics and other products over cellular networks, then manage them through software. Cisco will pay cash and assumed equity awards plus additional incentives, the San Jose, California-based company said in a statement Wednesday.