Cisco is buying Internet of Things company Jasper Technologies for $1.4 billion

Business Insider/screen captureCisco CEO Chuck Robbins

Cisco on Wednesday said it will be buying Jasper Technologies for $1.4 billion.

That includes a cash payment for the company, assumed equity awards, and additional retention incentives for Jasper employees who join Cisco.

Jasper makes a cloud-based network service for Internet of Things devices.

It has raised $205.3 million in venture funds.

More to come.

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