Cisco is spending $1.4 billion to begin its Internet of Things expansion

Expanding into the emerging Internet of Things market shouldn’t be too hard for Cisco considering how it’s the largest manufacturer of networking equipment in the world, but that doesn’t mean it needs to go through the trouble of building a new business from scratch. Instead, the company has decided to acquire a California-based startup by the name of Jasper Technologies for $1.4 billion, which will serve as the platform on which Cisco builds its future Internet of Things business.