Cisco completes acquisition of Duo Security

SAN JOSE, Calif. – October 1, 2018 – 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.