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Cybersecurity Enterprise Cloud

Cisco Acquires Cloud Software Startup Duo Security for $2.35B

Cisco Systems is paying $2.35 billion to acquire Duo Security, a startup that sells cloud-based software that controls authentication and access to corporate applications and servers, according to this report from MarketWatch. Cisco has reportedly been eyeing a big security deal for the past several months and earlier this year offered $2 billion to acquire cloud security company Zscaler, Bloomberg reported in April. 

The Duo Security deal fits with Cisco’s push to generate more revenue from subscription-based software, which has kicked into higher gear under CEO Chuck Robbins. Security has always been a major focus for Cisco, but may now be taking on greater importance given the company’s struggles in areas like cloud collaboration software. 

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