Cisco Completes Acquisition of Jasper to Accelerate Enterprise IoT

SAN JOSE, CA--(Marketwired - Mar 22, 2016) - Cisco (NASDAQ: CSCO) has completed its acquisition of Jasper, a privately held company based in Santa Clara, Calif. Jasper's industry-leading cloud-based Internet of Things (IoT) service platform enables companies of all sizes to rapidly and cost-effectively launch, manage and monetize IoT services on a global scale.

Our Vision Together
With the acquisition, Jasper forms the new IoT Cloud Business Unit within Cisco. Together, Cisco and Jasper will bring to market a comprehensive IoT service platform to enable service providers, enterprises and ecosystem partners to rapidly build IoT service businesses such as usage-based insurance for connected cars, predictive maintenance for industrial manufacturing, and asset tracking for commercial fleet management.

Cisco and Jasper will continue to deliver on Jasper's product roadmap and support Jasper's existing ecosystem partners. 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.

Enterprise IoT Transformation
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.

Service Provider Acceleration
Today, service providers are vying for a slice of the forecasted $4.3 trillion IoT opportunity¹ to increase their top-line growth. The breadth and depth of relationships that Cisco and Jasper have with service providers puts the combined company in a unique position to help service providers meet the ever-changing IoT needs of their customers.

Part of the charter of the new IoT Cloud Business Unit is to use Cisco and Jasper's combined talent and capabilities to address the toughest challenges facing the industry today. Together, Cisco and Jasper will make it easier for companies to enter the IoT market, accelerate growth, and enable service providers to help their enterprise customers transform to IoT businesses in the next decade. 

"IoT is a key piece of enabling Digital Transformation for today's enterprises. Cisco already has the network equipment, cloud, analytics and security layers, and the addition of Jasper brings critical IoT service platform layer needed to provide enterprises with a complete digitization strategy," said Carrie MacGillvray, Vice President, Mobile and Internet of Things at IDC. "This acquisition provides value for both Cisco and Jasper's enterprise customers, their service provider partners and broader IoT ecosystem partners."

Ecosystem Interoperability
Cisco and Jasper will provide an industry-wide interoperability platform that ecosystem partners can build on, accelerating the creation and deployment of IoT services by enterprises. Some of the world's largest IT solution vendors -- including IBM, Microsoft, Salesforce and SAP -- already integrate with Jasper's IoT service platform. The Jasper platform enables enterprises to quickly integrate technologies from these ecosystem partners to accelerate IoT service deployment.

For more information, read the blog from Rowan Trollope, SVP and GM of the Internet of Things and Applications Group at Cisco, and Jasper Founder and CEO, Jahangir Mohammed -- who is now GM of the newly-formed IoT Cloud Business Unit at Cisco: http://cs.co/9007Bg5gl

About Cisco
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Forward-Looking Statements
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including the expected completion of the acquisition and the time frame in which this will occur, the expected benefits to Cisco and its customers from completing the acquisition, and plans regarding Jasper personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, the potential impact on the business of Jasper due to the uncertainty about the acquisition, the retention of employees of Jasper and the ability of Cisco to successfully integrate Jasper and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.

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¹ Machina Research, December 2015