Cisco to Acquire Duo Security for $2.35 Billion in Cash

Cisco just announced a big acquisition, in the size of $2.35 billion in cash. The company is acquiring cloud-based identity and access management solutions provider Duo Security.

Cisco (NASDAQ: CSCO) 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,” the official announcement says.

More about Duo Security

Duo Security’s solution is designed to verify the identity of users and the condition of their devices before granting them access to applications, which helps prevent cybersecurity breaches. The platform supports Macs, PCs and mobile devices, and allows administrators to monitor end user devices accessing the corporate network.

As for the acquisition, it is expected that the integration of Cisco’s network and platforms with Duo Security’s authentication and access platforms will enable Cisco customers to connect users to any application on any network device in an easy and efficient manner.

Cisco’s Plans for the Acquisition

What Cisco hopes to accomplish by acquiring Duo Security and its technology is extending intent-based networking into multi-cloud environments. The company also hopes to simplify cloud security policy and expand endpoint visibility coverage.

As explained by David Goeckeler, executive vice president and general manager of Cisco’s networking and security business, “in today’s multicloud world, the modern workforce is connecting to critical business applications both on- and off-premise”.

IT teams are responsible for protecting hundreds of different perimeters that span anywhere a user makes an access decision. Duo’s zero-trust authentication and access products integrated with our network, device and cloud security platforms will enable our customers to address the complexity and challenges that stem from multi-and hybrid-cloud environments.

The acquisition (Read more...)

*** This is a Security Bloggers Network syndicated blog from How to, Technology and PC Security Forum | SensorsTechForum.com authored by Milena Dimitrova. Read the original post at: https://sensorstechforum.com/cisco-acquire-duo-security/