Cisco completed its acquisition of Jasper, a privately held company based in Santa Clara, California.
Financial details are not disclosed, but media reports have earlier showed that the deal is worth $1.4 billion. With the acquisition, Jasper forms the new IoT Cloud Business Unit within Cisco.
The networking giant and Jasper will jointly bring a comprehensive IoT service platform with Jasper.
The platform enables service providers, enterprises and ecosystem partners to build IoT service businesses such as usage-based insurance for connected cars, predictive maintenance for industrial manufacturing, and asset tracking for commercial fleet management.
Jasper’s existing ecosystem partners will continue to receive product roadmap and support from Cisco and Jasper.
Cisco will also build upon Jasper’s IoT service platform and add new services including advanced IoT security, support for additional connectivity options like enterprise Wi-Fi and low-power wide-area network (LPWAN), and analytics solutions.
With the Jasper IoT service platform, Cisco can enable companies to automate the management of IoT services across connected devices.
Now, enterprises will be able to transform their products into connected services, creating new business models and generating new sources of ongoing revenue, the networking expert said.
Earlier in March, Cisco announced the intent to acquire CliQr Technologies, a privately held company based in San Jose.
CliQr provides an application-defined cloud orchestration platform to model, deploy and manage applications across bare metal, virtualized and container environments.
In the month, the company has also released mass investment plans in India and Germany.