Cisco Systems to acquire Duo Security for $2.35 Billion

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American networking giant Cisco Systems has announced that it is going to acquire ‘Duo Security’ for $2.35 billion in cash. The deal is said to allow the American multinational technology conglomerate to step into the market for unified access security and multifactor authentication.

Michigan based Duo Security offers security expertise with a user-centered philosophy to provide 2-factor authentication, endpoint remediation and secure single sign-on tools for the modern era. Its much popular cloud-based solution verifies the identity of users and the health of their devices before granting them access to applications.

The news is out that after the acquisition, Duo Security employees will become part of Cisco’s Security Business Group, and Senior Vice President of Cisco Gee Rittenhouse is said to head the team.

The news that Cisco is going to buy Duo Security is doing rounds since June this year. But now, the networking behemoth has confirmed the news and added in its statement that the deal will allow its customers to connect securely to any application over any networked device.

Duo Security purchase will move Cisco in a new direction filled with identity and access. It will prove as a seminal development for IT teams deploying multi-cloud models and will allow the integration of networking, security, and identity via Cloud” said David Goeckeler, the EVP of Cisco Networking and Security Business.

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Naveen Goud is a writer at Cyber Security Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security