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Cisco bets $1.4B on Jasper and Internet of Things

Feb 04, 2016 - The Deal Pipeline
Mergers and Acquisitions

Cisco Systems Inc. (CSCO) agreed on Wednesday, Feb. 3, to pay $1.4 billion for Jasper Technologies Inc. as the tech giant bets on the Internet of Things and moves to stay ahead of market opportunities.

Jasper of Santa Clara, Calif., builds cloud-based software that allows companies to connect physical devices to the Internet--an idea called the Internet of Things, or IoT. Its platform enables companies to manage their IoT services. Founded in 2004, Jasper had backing from Benchmark...