Cisco to Buy Cybersecurity Firm Duo Security for $2.35 Billion

Cisco System Incorporation revealed on Thursday that it would buy Duo Security to expand its cloud computing. The company is trying to transform itself from its long-established business of making switch and routers to cybersecurity and cloud computing. Several companies are looking forward to deals like this to expand their cybersecurity offerings.

Cisco to Buy Cybersecurity Firm Duo Security

Last year, Cisco had a deal with a company called AppDynamics. Cisco Incorporation bought AppDynammics for $3.7 billion and now again it is the biggest deal for Cisco since then. According to the head of Cisco’s corporate development, the company has made a move towards software. He further said that it would be moving to boosting the recurring revenue through a new subscription-based solution. In an interview, Security Executive of Cisco noted that the team has been working to build exemplary security architecture and with Duo, Cisco will be able to extend the architecture to users.

Cisco is making software which can add the steady recurring revenue to its core networking business. The platform provided by Duo will allow the users with two-step identity verification and the architecture that Cisco is building will be like a ‘key’ since the customers, who use Macs, personal computers and mobile devices, will be able to connect to it in more securely in the cloud. Dug Song and Jon Oberheide, the Co-founders of Duo told in an interview that they would be developing a firewall for cloud and mobile and the combination with Cisco will expand the business.

Regarding the concerns of the deal to provide a more secure platform to the customers, Cisco said, the integration of its network with Duo Security’s Trusted-Access products will let it offer its customers, access to connect securely to any application on any networked device. Before granting permission to access the application, Duo’s Trusted Access, will verify the health of the device and the identity of the users. The acquisition is expected to close in the first quarter of Cisco’s fiscal in 2019.

Source – https://notron-setup.com/cisco-to-buy-cybersecurity-firm-duo-security/

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