Jasper Technologies to Be Acquired by Cisco
On February 3, 2016, Cisco, a global leader in IT, announced its intent to acquire Jasper Technologies, a privately held company that delivers a cloud-based IoT service platform to help enterprises and service providers launch, manage, and monetize IoT services on a global scale. Under the terms of the agreement, Cisco will pay $1.4 billion in cash and assumed equity awards, plus additional retention-based incentives. Wilson Sonsini Goodrich & Rosati is representing Jasper Technologies in the transaction.
The acquisition is expected to close in the third quarter of fiscal year 2016, subject to customary closing conditions.
The WSGR team representing Jasper Technologies in the transaction includes partners Marty Korman, Todd Cleary, Scott McCall, Jonathan Zhu, Paul Jin, and TJ Graham and associates Adam Bloom, Bindu Gottipati, and Melissa Smit.
For more information, click here to read Cisco's press release.