Cisco In Deal For Jasper
February 04 2016 - 3:03AM
Dow Jones News
(FROM THE WALL STREET JOURNAL 2/5/16)
By Don Clark
Cisco Systems Inc. said it will pay $1.4 billion in cash to buy
Jasper Technologies Inc., one of the best-known startups pursuing
the technology trend known as the Internet of Things.
The closely held company, founded in 2004, provides services to
help customers connect and monitor things like cars, jet engines,
manufacturing tools and medical pacemakers. Jasper specializes in
managing the wireless connections and billing relationships with
cellular carriers needed for what Silicon Valley calls IoT
applications.
Cisco, the biggest maker of networking equipment, has long
promoted the trend as the next major phase in the evolution of the
Internet. It sells a variety of switching, routing and Wi-Fi
equipment and related services and software.
The deal helps Cisco move "up the stack" of technology, becoming
more closely involved in IoT applications in addition to moving
data, said Rob Salvagno, Cisco's vice president of corporate
development.
(END) Dow Jones Newswires
February 04, 2016 02:48 ET (07:48 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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