Cisco to acquire Jasper for $1.4B

Cisco plans to acquire Jasper, a platform for large-scale Internet of Things deployments, the companiesannounced last week. The deal involves $1.4 billion in cash and equity, and Cisco expects to spend extra on incentives for Jasper employees to stick around through the transition.

Jasper’s Control Center platform ties together devices and apps by drawing on partnerships with mobile network operators in more than 100 countries. The company claims more than 3,500 enterprise-scale customers around the world, including many of the biggest names in e-commerce, retail, transportation and other industries.

In a blog post, Cisco investment chief Rob Salvagno praised Jasper CEO Jahangir Mohammed for his “visionary approach” as an early IoT leader. “10 years ago, when everyone was focused on flip phones and the early adoption of smartphones, Jahangir and team focused their energies on connecting everything else, including GPS units, cars, security systems and point of sale devices,” Salvagno wrote. “This early insight has proved fruitful, and now many millions of “things” are connected to the network and working on Jasper’s platform.”

At Cisco, Mohammed will head up new group called the IoT Software Business Unit. The deal is expected to close in the third quarter of 2016.

Related: Jasper secures $50M in growth financing round, Cisco aims to put analytics at the “edge” with acquisition of ParStream