Cisco to acquire Duo Security for US $2.35 billion

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Cisco has announced its intent to acquire Duo Security startup in a US $2.35 billion heavy deal, to further expand its intent-based networking into the multicloud environment.

Cisco has been pushing hard to expand its intent-based networking to other markets, with some of its recent purchases including OpenDNS, Lancope, CloudLock, Portculis, and Neohapsis, so a startup like Duo Security, which has a significant customer base, like Facebook, Toyota, Paramount, Yelp, and others, is a big target for Cisco.

According to the provided details, Duo Security offers unified access security and multi-factor authentication delivered through the cloud, verifying the identity of users.

“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.”

According to details provided by the company, the acquisition of Duo Security will allow Cisco to extend intent-based networking into multicloud environments, simplify policy for cloud security, as well as expand endpoint visibility coverage.

“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.”

The newest acquisition by Cisco is expected to be finalized in the first quarter of fiscal year 2019.