Jasper has been acquired by Cisco in a $1.4bn cash deal.
The Internet of Things (IoT) platform explained that Cisco will use the takeover to expand its own IoT strategy.
Jasper currently partners with a number of mobile networks around the world to build a platform to which IoT devices can connect. Rob Salvegno, VP of Corporate Development at Cisco, described this business model as ‘game-changing’, explaining that Cisco will look to use this to speed up IoT adoption.
Writing in a blog post, he said: ‘Cisco views Jasper as a unique IoT service platform that is disrupting a massive market with strong strategic alignment with Cisco. By joining Jasper with Cisco we will help our customers move faster to truly realize the value of IoT.’
The deal will see the creation of a new IoT Software Business Unit within Cisco, which will be led by current Jasper CEO Jahangir Mohammad.
The buy-out follows a year of partnerships for Jasper, collaborating with both Microsoft and IBM in 2015 to target the b2b sector. Speaking to Mobile at the close of last year, Macario Namie, VP of strategy predicted that the IoT market would change in 2016, with demand shifting from devices to services.