SAN JOSE, Calif. (AP) — Cisco Systems Inc. is buying Jasper Technologies for $1.4 billion in cash in a move to help its customers connect, automate and manage billions of Internet-connected devices ranging from cars to jet engines to implanted pacemakers.
Cisco said Wednesday that privately held Jasper has developed the industry's leading platform for what's known in technology parlance as the "Internet of Things" that encompasses a growing range of connected devices, appliances and machines.
Cisco, which makes computer networking equipment, says it plans to add new Internet of Things services including enterprise Wi-Fi, security for connected devices, and advanced analytics to better manage device usage.
Jasper, based in Santa Clara, California, has more than 3,500 customers in 100 countries.
Cisco of San Jose, California, will pay Jasper additional but unspecified "retention-based incentives."