Cisco Pays $1.4 Billion For Jasper, But What's A Jasper?

Cisco Systems, Inc. CSCO announced Wednesday night that it plans to purchase "Internet of Things" infrastructure provider Jasper Technologies for $1.4 billion in cash, according to a news release from the company.

While some see the move as another step toward an inevitable future where our smart homes, smart phones and smart cars are all connected, others might be stumped on what the Internet of Things is and who Jasper is.

Jasper Technologies offers businesses connected-device infrastructure, meaning it sets up plans for businesses that install connected-device technology. It also offers device monitoring programs that allow business owners and IT departments to track all their devices in the field and get status updates on those devices.

The "Internet of Things" is a term used to describe devices that communicate with each other, often without human interaction. For example, the "Internet of Things" in a smart home might have a thermostat sending home temperature and air flow updates to the homeowner's smartphone.

Jasper And IoT

Jasper's commercial IoT solutions range from home security to car manufacturing – automakers use the company's technology to get updates on cars' various software systems throughout the assembly process.

"Enterprises in every industry need integrated solutions that give them complete visibility and control over their connected services," Jasper CEO Jahangir Mohammed said.

Jasper has an estimated revenue of around $300 million, according to an analyst quoted by the Wall Street Journal Wednesday.

Cisco stock was trading slightly down early Thursday morning, having opened at $23.17 and seen trading at $23.09.