Cisco to buy cyber-security company Duo for $2.35 billion

Cisco Systems Iraqi National Congress same on Th it'dpurchase couple Security, a venture capital-backed cyber security company, for $2.35 billion in money, as a part of its push to expand into a quicker growing spaceof code than its core business.
The deal is that the biggest acquisition for Cisco since its $3.7-billion purchase of business performance observation code company AppDynamics last year, and its largest within the cyber security sector since its $2.7-billion takeover of Sourcefire in 2013.

The deal is Associate in Nursing example of "a move toward code and our shift to a lot of revenant revenue with new subscription-based solutions," parliamentarianSalvagno, head of Cisco's company development sameon a telephone call Th.

Many firms square measureon the rummage around fordeals to expand their cybersecurity offerings as firms wish to bulk up their defences against a wave of cyber attacks by criminals, spies and hacker activists. Earlier this month, telecommunications firm AT&T Iraqi National Congressbought AlienVault, a cybersecurity supplier for little and medium-size businesses.

Cisco is obtaining its act along within the cyber security market," Credit European country analyst Brad Zelnick same in an exceedingly analysis note, noting that Cisco has noninheritable 5 security firms over the past 3 years.

Cisco shares rose one.6 p.cat $42.54 on Th.

The deal represents a rare multi-billion greenback exit for cybersecurity venture investors UN agency aregushing cash at a record pace into a jammed market. There square measure over three,000 cyber

security firms with quite four hundred being funded each year, per consultatory firm Momentum Cyber.

One working capital firm, Benchmark, saw a twentytimes come back on its early investment within thecompany, per a supplyaccustomed to the matter. Benchmark declined to comment.

Based in urban center, Michigan, couple had raised $119 million up to now from investors like Lead Edge Capital, Index Ventures, Workday, Redpoint Ventures and True Ventures.

Duo's platform permits users to verify their identity with a ballroom dancingauthentication method, a product that Cisco executives same was key as a lot of of their customers are attempting to firmly connect with applications within thecloud.


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Last Updated : Aug 03, 2018 08:25 AM IST | Source: Reuters
Cisco to shop for cyber-security company couple for $2.35 billion
The deal is that the biggest acquisition for Cisco since its $3.7-billion purchase of business performance observation code company AppDynamics last year, and its largest within the cyber security sector since its $2.7-billion takeover of Sourcefire in 2013.
Reuters


Cisco Systems Iraqi National Congress same on Th it'dpurchase couple Security, a venture capital-backed cyber security company, for $2.35 billion in money, as a part of its push to expand into a quicker growing spaceof code than its core business.


The deal is that the biggest acquisition for Cisco since its $3.7-billion purchase of business performance observation code company AppDynamics last year, and its largest within the cyber security sector since its $2.7-billion takeover of Sourcefire in 2013.

The deal is Associate in Nursing example of "a move toward code and our shift to a lot of revenant revenue with new subscription-based solutions," parliamentarianSalvagno, head of Cisco's company development sameon a telephone call Th.

Many firms square measureon the rummage around fordeals to expand their cybersecurity offerings as firms wish to bulk up their defences against a wave of cyber attacks by criminals, spies and hacker activists. Earlier this month, telecommunications firm AT&T Iraqi National Congressbought AlienVault, a cybersecurity supplier for little and medium-size businesses.



Cisco shares rose one.6 p.cat $42.54 on Th.

The deal represents a rare multi-billion greenback exit for cybersecurity venture investors UN agency aregushing cash at a record pace into a jammed market. There square measure over three,000 cyber

security firms with quite four hundred being funded each year, per consultatory firm Momentum Cyber.

One working capital firm, Benchmark, saw a twentytimes come back on its early investment within thecompany, per a supplyaccustomed to the matter. Benchmark declined to comment.

Based in urban center, Michigan, couple had raised $119 million up to now from investors like Lead Edge Capital, Index Ventures, Workday, Redpoint Ventures and True Ventures.

Duo's platform permits users to verify their identity with a ballroom dancingauthentication method, a product that Cisco executives same was key as a lot of of their customers are attempting to firmly connect with applications within thecloud.

The deal, reported initial by Reuters, is predicted to shutwithin the half-moon of Cisco's commercial enterprise 2019.

Cisco has been creatingefforts to remodel itself on the far side networking. Besides security, it'sadditionally targeted on investment in what it calls the web of Things and cloud-based applications.

Cisco was suggested by syndicalist Sachs and Barclays further because thefirm Fenwick & West. couplewas suggested by Qatalyst Partners and firm Gunderson Dettmer.




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