Internet of Things gets thrown around a lot these days given that most major tech companies are now making products to establish their dominance in this market. IoT refers to a network of physical objects that are connected and able to exchange data with each other to ultimately make your life easier. It’s a growing market and there’s certainly a lot of opportunities here. Cisco believes that which is why it’s betting $1.4 billion on the Internet of Things.
The company has announced today that it’s acquiring Jasper Technologies for $1.4 billion. Jasper Technologies builds software for businesses allowing them to securely manage all sorts of connected devices.
This is Cisco’s biggest deal since 2013 when it spent $2.5 billion to acquire Sourcefire, a cybersecurity company. It’s not hard to imagine why a company like Cisco would want to play a pivotal role in the advancement of Internet of Things considering the fact that it’s one of the biggest developer of networking equipment in the world.
Gartner predicts that the number of connected devices will shoot past 20 billion by the year 2020 and since all connected devices need to be hooked up to the internet, Cisco has a stake in ensuring that all of that traffic securely flows through various devices to servers and beyond.