August 8, 2018
Cisco Systems Inc. has said it intends to acquire privately-held Duo Security, a provider of unified access security and multi-factor authentication delivered through the cloud.
Headquartered in Ann Arbour, Mich., the firm’s offering 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 securely connect users to any application on any networked device, the two firms said in a release.
Under the terms of the agreement, Cisco will pay US$2.3 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,” the release stated. “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.
Cisco said 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.
In addition, 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.”