- Cisco announced Wednesday it will acquire Jasper Technologies for $1.4 billion.
- Jasper provides an IoT platform that can connect devices like cars, wearable technology and medical devices. For example, the company's tech is used in Amazon's Kindles to span networks, offering connectivity and managing content delivery, according to a ZDNet report. Jasper also has a SaaS platform that can monitor connected devices online.
- Cisco called the acquisition "transformational" for the networking company, helping it break into the emerging field of connected devices.
Jasper already has a strong customer base, but Cisco can help accelerate its growth. More importantly, the Jasper purchase will likely help Cisco as the business world shifts from hardware-focused to software-focused. Several established technology companies have made strategic purchases in recent months to help them stay on the cusp of emerging technologies.
In all, Cisco has made 17 acquisitions over the last year in areas like cloud, video, analytics and security, according to ZDNet.
Rowan Trollope, Cisco's general manager for IoT and collaboration, said Cisco and Jasper make a great combination with "complementary portfolios across both companies," according to ZDNet.
"We've got the bread and Jasper's got some of the meat, come together and you get… an incredible meal," Trollope said.