Networking and telepresence firm Cisco has announced its intention to acquire cloud-based IoT service Jasper Technologies for $1.4bn (£959m), with the aim of enabling Cisco to offer a complete IoT solution that operates across devices and delivers tools for other connected service providers, app developers and partners.

Jasper is currently a leading IoT service platform in terms of number of enterprises and service providers, with many of the worlds largest firms using the Jasper platform to scale their IoT services businesses globally, connecting everything from implanted pacemakers to jet engines over cellular networks and managing them through Jaspers Software as a Service (SaaS) platform.

Cisco will continue to build upon Jaspers IoT service platform and add new services such as enterprise wi-fi, security for protected devices and advanced analytics to better manage device usage.

Jaspers CEO, Jahangir Mohammed, will run the new IoT Software Business Unit under Rowan Trollope, senior vice president and general manager for IoT and Collaboration Technology Group at Cisco. The acquisition is expected to close towards the end of 2016.

“I am excited about the opportunity for Cisco and Jasper to accelerate how customers recognise the value of the Internet of Things,” said Chuck Robbins, CEO of Cisco. “Together, we can enable service providers, enterprises and the broader ecosystem to connect, automate, manage and analyse billions of connected things, across any network, creating new revenue streams and opportunities.”

“IoT has become a business imperative across the globe,” said Mohammed. “Enterprises in every industry need integrated solutions that give them complete visibility and control over their connected services, while also being simple to implement, manage and scale. By coming together, Jasper and Cisco will help mobile operators and enterprises accelerate their IoT success.