& cplSiteName &

Cisco to Buy Duo Security for $2.35B

Light Reading
News Wire Feed
Light Reading
8/2/2018
50%
50%

SAN JOSE, Calif. – Cisco today announced its intent to acquire privately-held Duo Security, headquartered in Ann Arbor, Mich. Duo Security is the leading provider of unified access security and multi-factor authentication delivered through the cloud. Duo Security's solution verifies the identity of users and the health of their devices before granting them access to applications – helping prevent cybersecurity breaches. Integration of Cisco's network, device and cloud security platforms with Duo Security's zero-trust authentication and access products will enable Cisco customers to easily and securely connect users to any application on any networked device.

Under the terms of the agreement, Cisco will pay $2.35 billion in cash and assumed equity awards for Duo Security's outstanding shares, warrants and equity incentives on a fully-diluted basis.

Business-critical data and applications today are accessed by customers, partners and employees from a multitude of locations and networks, both secure and open, using company-issued and personal devices. Attackers know that one of the most effective ways to access enterprise systems is through compromising user passwords or devices. According to the 2017 Verizon Data Breach Report, the majority of hacking related breaches involve stolen or weak passwords. Acknowledging this, Cisco and Duo Security are closely aligned in the approach of designing infrastructure for the extended enterprise where users, devices and applications are the center of the modern security architecture.

The acquisition of Duo Security will:

  • Extend intent-based networking into multicloud environments. Cisco currently provides on-premises network access control via its Identity Services Engine (ISE) product. Duo's software as a service-based (SaaS) model will be integrated with Cisco ISE to extend ISE to provide cloud-delivered application access control.
  • Simplify policy for cloud security. By verifying user and device trust, Duo will add trusted identity awareness into Cisco's Secure Internet Gateway, Cloud Access Security Broker, Enterprise Mobility Management, and several other cloud-delivered products.
  • Expands endpoint visibility coverage. Cisco's in-depth visibility of over 180 million managed devices will be augmented by Duo's broad visibility of mobile and unmanaged devices.

    The acquisition is expected to close during the first quarter of Cisco's fiscal year 2019, subject to customary closing conditions and required regulatory approvals. Duo Security, which will continue to be led by Song, will join Cisco's Networking and Security business led by EVP and GM David Goeckeler.

    Related blogs:

  • David Goeckeler, EVP and GM
  • Rob Salvagno, Vice President Corporate Development, Cisco
  • Dug Song, Co-founder and CEO, Duo Security
  • Cisco Systems Inc. (Nasdaq: CSCO)

    (0)  | 
    Comment  | 
    Print  | 
    Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
    Featured Video
    From The Founder
    John Chambers is still as passionate about business and innovation as he ever was at Cisco, finds Steve Saunders.
    Flash Poll
    Upcoming Live Events
    September 12, 2018, Los Angeles, CA
    September 24-26, 2018, Westin Westminster, Denver
    October 9, 2018, The Westin Times Square, New York
    October 23, 2018, Georgia World Congress Centre, Atlanta, GA
    November 6, 2018, London, United Kingdom
    November 7-8, 2018, London, United Kingdom
    November 8, 2018, The Montcalm by Marble Arch, London
    November 15, 2018, The Westin Times Square, New York
    December 4-6, 2018, Lisbon, Portugal
    All Upcoming Live Events
    Hot Topics
    T-Mobile to Play the Customer Care Card With Layer3 TV
    Jeff Baumgartner, Senior Editor, Light Reading, 8/15/2018
    Australia Could Open 5G Door to Huawei
    Robert Clark, 8/16/2018
    Video Navigation Gets an AI Assist
    Jeff Baumgartner, Senior Editor, Light Reading, 8/16/2018
    Eurobites: Deutsche Telekom Pulls Out of Iran
    Iain Morris, International Editor, 8/17/2018
    Animals with Phones
    When Your Cat Hijacks Your Tech Click Here
    Latest Comment
    Live Digital Audio

    A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

    Like Us on Facebook
    Twitter Feed