Deals
Cisco to Acquire Duo for $2.35 Billion, Adding to Security
- Acquisition customers include Facebook, Yelp, Zillow
- Duo provides network access verification cloud service
Chuck Robbins, chief executive officer of Cisco Systems Inc.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Cisco Systems Inc., the biggest provider of the machinery that forms the backbone of the internet, said it plans to buy Duo Security for $2.35 billion, adding to its offerings in cloud-based security.
Cisco is paying in cash and assumed equity for the private company, which provides technology that checks identities and the trustworthiness of the devices being used to access applications. The transaction is expected to close in Cisco’s fiscal first quarter, which begins in October, the company said in a statement Thursday.