Cisco announced yesterday, February 3rd that they have reached a deal to acquire Jasper Technologies for $1.4 billion. Jasper Technologies, headquartered in Santa Clara, CA, provides a cloud-based software for the Internet of Things (IoT) and helps organizations launch, manage, and monetize the deployment of the IoT globally.
With this acquisition Cisco will bring onboard a complete IoT service solution with a company that has strong expertise in the growing IoT market. “Internet of Things” is a newer buzzword that basically describes connected machines communicating with one another over the internet (another one of our posts talks about a similar trend to this).
What Jasper provides is a platform to build these connected devices and get to market in less time with less friction. These systems of connected devices produce a lot of data that requires a specialized platform to process, manage and analyze all of that data. The cloud is a good route for all of this data because it is a scalable platform for companies whose data grows by the second.
As Cisco clearly recognizes the growth potential that IoT offers, this acquisition positions both companies to become a powerful entity with their joint forces. Jasper Technologies has an impressive list of customers including Boston Scientific, GM, Ford, and Heineken among them.
The IoT market is still in the beginning stages of what is likely the next great technological revolution. Some of the early applications of connecting physical machines to the internet available today include driverless cars and drones, both of which are still evolving technologies that have already demonstrated tremendous current value and are still developing. In the coming decades, the innovative uses riding the IoT wave are only limited by the creativity of the human mind, and Cisco is gearing itself for this new wave of innovation.