Cisco today announced its intention to buy Ann Arbor, MI-based security firm, Duo Security. Under the terms of the agreement, Cisco is paying $2.35 billion in cash and assumed equity awards for Duo.
According to Cisco, Duo’s zero-trust security model authorizes secure connections to all applications based on the trustworthiness of users and devices. Duo’s cloud-delivered technology lets IT professionals set and enforce risk-based, adaptive access policies and get enhanced visibility into users’ devices and activities. As more devices come onto the network remotely this issue takes on more importance.
About Duo Security –
Duo Security was founded in 2010 by Dug Song and Jonathan Oberheide and went on to raise $121.M through several rounds of funding. The company has 700 employees with offices throughout the United States and in London, though the company has remained headquartered in Ann Arbor.
Why Duo Security Acquisition –
The acquisition feels like a good fit for Cisco. Duo’s security apparatus lets employees use their own device for adaptive authentication. Instead of issuing key fobs with security codes, Duo’s solution works securely with any device. And within Cisco’s environment, the technology should feel like a natural fit for secure two-factor authentication.
- 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.
Over the last few years, Cisco has made several key acquisitions: The latest deal Duo Security is expected to close in the first quarter of Cisco’s fiscal year 2019.
IronPort Systems – a provider of spam and spyware protection (2007)
Sourcefire – an intrusion detection tech firm (2013)
Threatgrid – a malware analyzing firm (2014)
Lancope – a network monitor (2015)
OpenDNS – a domain name service provider (2015)
Cloudlock – a privately-held cloud security company (2016)
AppDynamics – a firm that monitors and manages app performance (2017)
Broadsoft – a call center tech company (2017)
Duo Security – cloud-based tools to prevent security breaches on devices (2018)
About Cisco –
Cisco (NASDAQ: CSCO) is the worldwide technology leader that has been making the Internet work since 1984. Our people, products, and partners help society securely connect and seize tomorrow’s digital opportunity today. Discover more at newsroom.cisco.com and follow us on Twitter at @Cisco.