News
Cisco Announces Intent to Acquire Duo Security
August 2018 by Marc Jacob
Cisco announced its intent
to acquire privately-held Duo Security, headquartered in Ann Arbor, Mich. Duo
Security is a 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.
