Home Business Cisco Systems Takes Over Jasper Technologies For $1.4 Billion

Cisco Systems Takes Over Jasper Technologies For $1.4 Billion


There have been various speculations and predictions regarding where the world of technology has been heading forward towards and where we are going to.

However, in 2016, the picture has been much clearer than ever before. 2015 was the year we saw as the launching pad of major technologies which would change the way we see our future to be, and 2016 is the year they grow big.

The three major technologies which will change the future of technology are – Internet of Things, Artificial Intelligence and Virtual Reality.

Some of the biggest names in the world are already shifting gears in order to adjust to this change, and the latest name to join the bandwagon has been that of Cisco Systems.

The company has been coming out with a large number of changes to the way they work, and the latest news from them comes in the form of the acquisition of Jasper Technologies.

As per latest information obtained, Cisco Systems has now made it official that they will be taking over Jasper Technologies. The company has announced that this deal will take place for $1.44Bn in cash and equities.

A statement from Cisco Systems reads “Jasper is the industry’s leading IoT service platform in terms of number of enterprises and service providers … Jasper develops and provides a SaaS platform with a predictable, recurring revenue IoT business that manages and drives a wide range of connected devices and services for more than 3500 enterprises worldwide, working with 27 service provider groups globally.”

The timing of the purchase too, is spectacular as seven months ago, Cisco had entered the IoT markets, when they showed off their first IoT system. The company knows that they will soon be facing threat from rising competitors such as the cloud technology.

Talking about the timing of the purchase, the company had also announced in October the acquisition of ParStream, a startup which provided database for IoT data.

Before the acquisition, Jasper Technologies were gearing up to launch an IPO. The CEO of the company, Jahangir Mohammed is now expected to work with Cisco for three quarters of 2016.

This acquisition is the second biggest acquisition of all times by Cisco, who have been constantly taking over smaller firms. Their biggest acquisition was in 2013, when they took over SourceFire for $2.7Bn.