Cisco Acquires Jasper for $1.4 billion to Boost their IoT Offering

Cisco have announced they intend to acquire Jasper. The privately held Santa Clara based IoT platform call themselves, ‘the On Switch for the Internet of Things’. Jasper has taken over $200 million in venture investment and was considering an IPO last year. The price is reported to be the same valuation as their last venture round in 2014.

Interesting, not just because this is one of the biggest and highest profile acquisitions in the rapidly moving IoT space – we can expect more consolidation in IoT this year – but because it represents a¬†shift in Cisco’s strategy from being a product to service based business.

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