Cisco Completes Acquisition of Duo Security
01 October 2018 - 10:00PM
Cisco Completes Acquisition of Duo Security
Cisco (NASDAQ: CSCO) today announced it has completed the
acquisition of Duo Security, a privately-held company headquartered
in Ann Arbor, Michigan.
Duo is the leading provider of unified
access security and multi-factor authentication delivered through
the cloud. Duo’s solution 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’s zero trust
authentication and access products will help enable Cisco customers
to easily and securely connect users to any application on any
networked device.
Duo’s technology is a highly strategic
addition to Cisco’s portfolio and will help accelerate its
intent-based networking strategy by: extending intent-based
networking into multicloud environments; simplifying policy for
cloud security and expanding endpoint visibility coverage.
Cisco acquired Duo Security for $2.35
billion in cash and assumed equity awards for 100% of Duo’s
outstanding shares, warrants and equity incentives on a
fully-diluted basis.
Duo CEO and co-founder Dug Song and
team are joining Cisco’s Networking and Security business led by
EVP and GM David Goeckeler.
For more information about Cisco’s
acquisition of Duo Security, read the blog from Gee Rittenhouse,
SVP and GM, Cisco Security.
About Cisco
Cisco (NASDAQ: CSCO) is the worldwide
technology leader that has been making the Internet work since
1984. Our people, products, and partners help society securely
connect and seize tomorrow's digital opportunity today. Discover
more at newsroom.cisco.com and follow us on Twitter at @Cisco.
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Forward-Looking
Statements
This press release may be deemed to
contain forward-looking statements, which are subject to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995, including statements regarding the expected
benefits to Cisco and its customers from completing the
acquisition, and plans regarding Duo personnel. Readers are
cautioned that these forward-looking statements are only
predictions and may differ materially from actual future events or
results due to a variety of factors, including, among other things,
the potential impact on the business of Duo due to the
uncertainty about the acquisition, the retention of employees
of Duo and the ability of Cisco to successfully
integrate Duo and to achieve expected benefits, business
and economic conditions and growth trends in the networking
industry, customer markets and various geographic regions, global
economic conditions and uncertainties in the geopolitical
environment and other risk factors set forth in Cisco's most recent
reports on Form 10-K and Form 10-Q. Any forward-looking
statements in this release are based on limited information
currently available to Cisco, which is subject to change, and Cisco
will not necessarily update the information.
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