Home Cyber Security News Cisco Buys Cybersecurity Company Duo Security For $2.5 Billion

Cisco Buys Cybersecurity Company Duo Security For $2.5 Billion

by Unallocated Author

Cisco Systems in no stranger in the IT world, it is one of the giants. In a move to further spread its wings and increase its outreach, Cisco announced it is set to buy Duo Security, a cybersecurity firm based in Ann Arbor, Michigan, USA. The price? 2.5 billion in cash, as well as equity awards for Duo Security.

David Goeckeler, executive vice president and general manager of Cisco’s networking and security business advised;

“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.”

What does Duo Security do?

Duo Security aids organizations, no matter their size, to protect against security threats and avoid potential data breaches.The company was established back in 2010, and it has since then gained the trust of many companies, including top brands like WhatsApp and Etsy. Duo’s products are in use by some 12,000 customers worldwide. They have a team of over 700 individuals. Duo’s security methods works with any device, letting employees use their electronic devices for authentication. Duo uses an identity verification technique to guarantee that an individual who uses a device to access an organization’s system is legitimate and authorized to do so.

What does the deal mean for Cisco?

Over the years, Cisco has acquired some other firms; OpenDNS, Sourcefire, Cloudlock, and now Duo. This latest deal will be finalized in the first quarter of Cisco’s fiscal year 2019.

Of course, Cisco plans on benefiting a lot. It will aid Cisco’s intent-based network strategy and let customers connect users to any application, no matter the network, in a secure manner. Duo’s software as a software-as-a-service (SaaS) model will be integrated into Cisco’s Identity Services Engine (ISE) to extend ISE to provide cloud-delivered application access control. Cloud security on Cisco’s Secure Internet Gateway, Cloud Access Security Broker, Enterprise Mobility Management is another application for Duo’s security solutions.

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