logo
Plus   Neg
Share
Email

Cisco Plans To Acquire Privately-held Duo Security For $2.35 Bln

Cisco (CSCO) said that it plans to acquire privately-held Duo Security, headquartered in Ann Arbor, Mich.

As per the terms of the agreement, Cisco will pay $2.35 billion in cash and assumed equity awards for Duo Security's outstanding shares, warrants and equity incentives on a fully-diluted basis.

Duo Security is the provider of unified access security and multi-factor authentication delivered through the cloud. Duo Security's solution verifies the identity of users and the health of their devices before granting them access to applications - helping prevent cybersecurity breaches.

The acquisition is expected to close during the first quarter of Cisco's fiscal year 2019, subject to customary closing conditions and required regulatory approvals. Duo Security, which will continue to be led by Song, will join Cisco's Networking and Security business led by EVP and GM David Goeckeler.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Google added bitcoin's 'B' symbol to its Keyboard on iOS devices, indicating the leading cryptocurrency's growing acceptance in the mainstream industry. The feature, however, is not added to Android keyboards. The addition of the bitcoin currency key reflects Google users' growing interest in bitcoin. According to Google Trends, 'What is Bitcoin?' was the most popular search question in 2018. Shares of Deutsche Telekom AG were losing around 2 percent in German trading after the telecom giant reported Thursday a net loss in its fourth quarter, compared to prior year's profit, despite increased revenues. Looking ahead, the company said its 2019 forecast shows undiminished growth momentum. Hormel Foods Corp. on Thursday reported a 20 percent decline in profit for the first quarter from last year, when results were aided by a benefit related to the U.S. tax reform. However, earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates. Looking ahead, the branded food company reiterated its financial outlook for fiscal 2019.
Follow RTT