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Cisco snaps up Duo Security in multi-billion dollar deal

(Image credit: Flickr / Prayitno)

Cisco has strengthened its security offering with a major new deal to acquire Duo Security.

The all-cash $2.35bn acquisition, set to complete within the next few months, looks to help Cisco improve the security of its cloud-based services and prevent breaches.

Founded in 2010, the Ann Arbor-headquartered firm is a market leader in unified access security and multi-factor authentication (MFA) offerings, with customers across a wide range of industries.

"Our partnership is the product of the rapid evolution of the IT landscape alongside a modernising 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."

Cisco says that the deal will help it extend its intent-based networking offering into multi-cloud environments, as well as simplify its cloud security policy and extending its endpoint visibility coverage.

"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."

Mike Moore is Deputy Editor at TechRadar Pro, and has worked as a B2B and B2C tech journalist for nearly a decade, including at one of the UK's leading national newspapers and ITProPortal.