)
Cisco to buy cybersecurity company Duo for $2.35 billion, biggest acquisition after AppDynamics last year
FirstpostDuo’s platform allows users to verify their identity with a two-step authentication process, a product that Cisco executives said was key as more of their customers are trying to securely connect to applications in the cloud. Cisco Systems Inc said on Thursday it would buy Duo Security, a venture capital-backed cyber security company, for $2.35 billion in cash, as part of its push to expand into a faster-growing area of software than its core business. The deal is the biggest acquisition for Cisco since its $3.7-billion purchase of business performance monitoring software company AppDynamics last year, and its largest in the cybersecurity sector since its $2.7-billion takeover of Sourcefire in 2013. “Cisco is getting its act together in the cyber security market,” Credit Suisse analyst Brad Zelnick said in a research note, noting that Cisco has acquired five security companies over the past three years.
History of this topic
Cisco buying cybersecurity firm Splunk for $28 billion, bolstering defenses as use of AI widens
Associated Press)
Chipmaker Broadcom is in talks to buy cybersecurity company Symantec: Report
FirstpostDiscover Related
)
)
