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Cisco continues IoT investment with new acquisition

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It looks like Cisco is not done acquisitions yet.

The networking giant is continuing on the path, announcing it plans to acquire IoT cloud provider Jasper Technologies, Inc. for $1.4 billion in cash and equity.

Santa Clara, CA-based Jasper is privately held and provides a cloud-based IoT service platform for enterprises.

Jasper’s technology connects various internet-enabled devices, including cars to jet engines and pacemakers to cellular networks. It is also designed to secure devices and collect data, automate management and speed deployment.

“The proposed acquisition will allow Cisco to offer a complete IoT solution that is interoperable across devices and works with IoT service providers, application developers and an ecosystem of partners,” Cisco said in a statement. It added that it would eventually add additional services such as enterprise Wi-Fi, security and analytics.

According to Nasdaq, Cisco made 11 acquisitions in 2015 and is among the biggest investors in IoT.

Meanwhile, Jasper has some 3,500 customers and some 27 service-providers. The acquisition is expected to close in Q3 2016 and Jasper’s chief executive Jahangir Mohammed will move to head the new IoT software business unit at Cisco.