Cisco Systems, Inc. CSCO recently completed the buyout of Jasper Technologies Inc. for $1.4 billion in cash to expand further into the Internet of Things (IoT) space.
Jasper is currently the leading player in the IoT space on the basis of the number of enterprises and service providers it serves globally.
The Santa Clara-based start-up has an automated system for managing and monitoring IoT devices (connected cars, homes and medical devices, among others) through the cloud. As a result, enterprises and cloud-based service providers can use the system to launch services and track customers’ usage through IoT devices.
According to the San Jose-based company, Jasper will simplify the main aspects of IoT for its customers, i.e. connecting and securing devices on a global scale while collecting and analyzing the data generated by those devices. Also, Cisco will offer 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.
IoT is gaining immense popularity in the technology space at the moment. Apart from Cisco, which manufactures and sells computer networking equipment, companies like International Business Machines Corporation IBM, General Electric Company GE and Microsoft Corporation MSFT have been planning to invest in the development of data-tracking techniques for sensor-equipped devices and smartphones.
With the Jasper takeover Cisco moved a step ahead in strengthening its foothold in the IoT space. Previously, it had entered into an alliance with Fanuc America, a robotics company which uses IoT technology to monitor robots.
Cisco Systems’ shares carry a Zacks Rank #3 (Hold).
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