Cisco to pay $2.35B for data security firm Duo

Cisco said Thursday it will buy Michigan-based Duo Security for $2.35 billion. File Photo by Monica M. Davey/EPA

Aug. 2 (UPI) — Tech conglomerate Cisco said Thursday it will buy cyber-security firm Duo Security for more than $2.3 billion.

Michigan-based Duo Security helps companies fend off data breaches through a platform that verifies the identities of users and health of their devices before granting access.

Cisco’s acquisition of Duo Security will allow for extended on-premises network access, simplify cloud security and expand visibility coverage beyond over 180 million managed devices, the company said in a statement.

“IT teams are responsible for protecting hundreds of different perimeters that span anywhere a user makes an access decision,” Cisco executive vice president David Goeckeler said. “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.”

The deal is expected to close during the first quarter of fiscal 2019.

Thursday’s was Cisco’s largest acquisition since a $3.7 billion deal for application management company AppDynamics last year.

“We continue to rapidly innovate in security to address key areas of concern for our customers such as security in their complex data centers,” Cisco CEO Chuck Robbins said in May.



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