Cisco is acquiring the leading cloud-based two-factor authentication services provider Duo Security for $2.35 billion in cash and assumed equity awards.
Headquartered in Ann Arbor (Mich), Duo Security’s multi-factor authentication solution verifies the identity of users and health of their devices before providing access to applications. It strengthens the application security and prevents the cybersecurity breaches.
Customers, partners and employees nowadays access the business-critical data and applications from multiple locations and networks using company-issued and personal devices. The cybercriminals can compromise the passwords and devices to access enterprise systems.
By acquiring Duo Security, Cisco will integrate Duo’s zero-trust authentication and access products with its networking, device and cloud security platforms. The integration will help Cisco customers to securely connect users to applications on any networked device.
“In today’s multicloud world, the modern workforce is connecting to critical business applications both on- and off-premise,” said David Goeckeler, executive vice president and general manager of Cisco’s networking and security business.
“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.”
Cisco will further integrate Duo’s software-as-a-service (SaaS) model with Cisco Identity Services Engine (ISE) to extend intent-based networking into multicloud environments. Cisco is also bringing Duo’s trusted identity awareness to Cisco Secure Internet Gateway, Cloud Access Security Broker, Enterprise Mobility Management, and more cloud-delivered products.
Lastly, Cisco will augment endpoint visibility coverage of over 180 million managed devices with Duo’s visibility of mobile and unmanaged devices.
“Our partnership is the product of the rapid evolution of the IT landscape alongside a modernizing workforce, which has completely changed how organizations must think about security,” said Dug Song, Duo Security’s co-founder and chief executive officer.
“Cisco created the modern IT infrastructure, and together we will rapidly accelerate our mission of securing access for all users, with any device, connecting to any application, on any network. By joining forces with the world’s largest networking and enterprise security company, we have a unique opportunity to drive change at a massive scale, and reshape the industry.”
Dug Song will continue to lead Duo Security that will join Cisco’s Networking and Security business. The acquisition will close in Cisco’s first quarter FY19.