Bangalore: Networking giant Cisco has announced its intent to acquire Duo Security – a US based private equity backed security firm that provides security solutions including two-factor authentication, endpoint remediation and secure sign-on tools.
Given Duo Security’s capabilities, Cisco wants to leverage that for its intent-based networking portfolio and multi-cloud models, which actually would complement the networking giant.
“Duo’s relevance within the context of our intent-based networking strategy spans across the entire extended enterprise. It is a highly strategic addition and enables Cisco to deliver what our customers require in today’s multi-cloud world – the ability to securely connect any user to any application on any network,” David Goeckeler, Cisco’s EVP and GM – Networking and Security Business, said in a blog post.
Cisco’s latest move is in line with its strategy to bring networking and security together and provide a unified networking and security posture to enterprises and businesses. And multi-cloud environment has become a new norm for enterprises today, but they also continue to face advance persistent threats.
“We had to shift our thinking and take a different approach. Cisco’s technology strategy had to automate and simplify networking and it had to make real progress against the security threats our customers face,” said Goeckeler.
Further, “Our customers needed a new integrated networking and security architecture that was reengineered for these new realities. IP networking has literally changed the very fabric of society and ushered in fundamental business transformation,” he wrote in his post.
Certainly, Cisco is banking on Duo acquisition in terms of its strategy of automating networking domains and building cloud based security. “It moves Cisco in a new direction — identity and access. It’s a seminal development for IT teams deploying multi-cloud models — the integration of networking, security and identity all delivered from a cloud-based, frictionless platform,” emphasized Goeckeler.
Cisco hasn’t disclosed financial terms of Duo acquisition, however according to some media reports it’s a cash deal worth $2.35 billion.