Cisco Acquisition of Duo Security Completed for $2.35 billion

Cisco announced it has completed the acquisition of Duo Security, a privately-held company headquartered in Ann Arbor, Michigan.

Acquisition Announcement

At the beginning of August, Cisco announced intention to acquisition of Duo Security, a unified access security and multi-factor authentication company headquartered in Ann Arbor, MI. Today, I am happy to share that we have completed the acquisition of the company.

Duo’s people centric, zero trust security model, allows secure connections to applications – whether on premises or in the cloud. Using multi-factor authentication (MFA) and contextual user access policies, organizations can verify an employee’s identity to ensure they are who they say they are and add more checks on the trustworthiness of devices through security health inspections.

With MFA a person’s username and password are not enough to assume an individual’s identity, and the risk of a hacker getting access to critical data is significantly reduced.

This is what Duo’s technology does today. We are excited about this, but it is just the beginning. We know there is great value in pursuing integration opportunities within our existing portfolio to drive an even greater security posture. Duo in combination with products like Umbrella, Stealthwatch, ISE and Tetration will enable Cisco to provide an end-to-end Zero Trust Architecture.

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.

Together, Cisco and Duo Security are designing infrastructure for the extended enterprise where users, devices and applications are the center of the modern security architecture. Integrating our network, device and cloud security platforms with Duo’s zero trust authentication and access products, Cisco’s security architecture is equipped to address the complex challenges that stem from hybrid and multi-cloud environments in today’s work environment

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 acquisition of 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.