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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ford Motor Company | NYSE:F | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.05 | -0.40% | 12.44 | 12.76 | 12.42 | 12.64 | 28,725,071 | 19:34:26 |
By Telis Demos
Jasper Technologies Inc., which makes a software platform to help companies connect to the Internet, is working on an initial public offering for next year, people familiar with the matter said.
The Mountain View, Calif., company is working with banks including Morgan Stanley, Goldman Sachs Group Inc. and Deutsche Bank AG on an offering that could raise $150 million and give the business a multibillion-dollar market value, the people said. The deal could come next year, though the timing isn't firm, they added.
A Jasper IPO would be watched closely as a measure of investor enthusiasm for what is known as the "Internet of things," referring to the emerging practice of connecting items as varied as cars, thermostats and pajamas to the Internet.
Other companies that fall into the category include Nest Labs Inc., which makes Internet-connected thermostats for consumers and was acquired by Google Inc. last year for $3.2 billion, as well as Fitbit Inc. and Jawbone, which make web-connected consumer devices that track a user's health.
Jasper's software platform helps companies manage devices or products that are Internet-connected and to sell additional services through them. Customers have included Heineken, which uses a web connection to monitor the freshness of beer in kegs, and Ford Motor Co., which uses it to allow drivers to unlock or start their cars from their mobile phone, according to Jasper's website. Jasper was founded by Jahangir Mohammed, who is its chief executive, in 2004.
The company most recently raised $50 million in a round led by Singapore's Temasek Holdings Ltd. The deal valued Jasper at more than $1 billion and brought its total funding over $200 million, the company has said. Other backers include mutual fund firm AllianceBernstein Holding LP and venture-capital firms Sequoia Capital and Benchmark Capital.
Write to Telis Demos at telis.demos@wsj.com
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