Cisco has acquired the IoT services platform provider Jasper for $1.4 billion reports Techcrunch. Post acquisition, Jasper will continue to operate as usual, while its founder & CEO Jahangir Mohammad, will lead Cisco’s newly formed IoT software business unit under Rowan Trollope, IoT and collaboration SVP/GM. The deal is expected to close later this year and is subject to regulatory approval.
Jasper provides an IoT services platform and a ‘Control Centre’ software to manage these services. It enables enterprises to automate the management of IoT services across connected products such as cars, printers, home security, vending machines and others. As of now, the company claims to work with over 100 network providers for IoT deployments and have 3,500 global customers, including Reliance Communications, which had entered into a partnership with Jasper for providing enterprises with a platform to launch their IoT services.
Cisco has been focused for a while on capturing the nascent IoT market. Its investment arm, Cisco Investments, currently claims to have over 50 IoT companies in its portfolio. In India, Ineda Systems, maker of low-power chips for wearable and IoT devices, raised $2 million from Cisco Investments in November 2014.
Cisco IoT in India: In July 2014, Cisco had signed a strategic agreement with Electronics City Industries Association (ELCIA) to set up an Internet of Things (IoT) Innovation Hub in Bangalore, as a part of its Cisco Smart+Connected Communities initiative. In December the same year, it tied up with ILFS Technologies, to jointly develop solutions for digital infrastructure and smart cities in the country.
Other than smart city solutions, it had also tied up with the engineering services arm of Larsen & Toubro, L&T Technology Services to set up an Internet of Everything (IoE) solutions centre in Bangalore, targeting the transport and mass transit industries. Cisco Investments had also increased the amount allocated for investment in early stage firms in the IoT segment in India by $40 million, in 2014.