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article imageCisco set to acquire 2FA provider Duo Security

By Lisa Cumming     Aug 4, 2018 in Business
Networking hardware company Cisco announced its plans to buy two factor authorization provider Duo Security for a combination of cash and equity awards.
The terms of the acquisition see Cisco buying Duo Security for $2.35 billion in cash and "assumed equity awards".
Despite the changes in store, both companies are adamant that their service and values will remain unchanged.
"I know this news is unexpected, and I’m sure you’re all wondering what this means for each of you. Our strategy, purpose, and values remain unchanged," reads a blog post from Dug Song, co-founder and CEO of Duo Security. "Cisco is committed to our leadership and core values that have made Duo a trusted advisor, industry leader, and a great place to work."
Some are having doubts about this deal and are concerned about what it means for the future of Duo Security.
"The concerns we had... can broadly be packed together under a single scary prediction: Cisco is going to screw up Duo by turning it into a Cisco-style product," writes Lee Hutchinson on Ars Technica. Hutchinson writes that Cisco has the potential to turn Duo Security "into a Frankenstein-monster nightmare of tabs and infinite nested menus" complete with an overcomplicated menu and features that only benefit "top-tier enterprise customers." All this over making changes to improve the product for all users.
The New York Times called this acquisition "part of a trend in which cloud providers and cybersecurity companies are trying to bolster the services they offer," citing recent acquisitions from Amazon, Oracle, VMWare, McAfee, and Symantec as examples.
The acquisition by Cisco of Duo Security is expected to close during Q1 of Cisco’s 2019 fiscal year and will see Duo join Cisco under the Security Business Group.
More about Cisco, Duo, Cybersecurity, Acquisition, Merger