Cisco Announces Intent to Acquire Duo Security
Acquisition Will Help Accelerate Cisco’s Intent-Based Networking Strategy, Allowing Customers to Securely Connect Users to Any Application on Any Network
SAN JOSE, Calif., Aug. 02, 2018 (GLOBE NEWSWIRE) -- Cisco (NASDAQ:CSCO) today announced its intent to acquire privately-held Duo Security, headquartered in Ann Arbor, Mich. Duo Security is the leading 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. Integration of Cisco’s network, device and cloud security platforms with Duo Security’s zero-trust authentication and access products will enable Cisco customers to easily and securely connect users to any application on any networked device.
Under 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.
“In today’s multicloud world, the modern workforce is connecting to critical business applications both on- and off-premise,” said David Goeckeler, executive vice president and general manager of Cisco’s networking and security business. “IT teams are responsible for protecting hundreds of different perimeters that span anywhere a user makes an access decision. Duo’s zero-trust authentication and access products integrated with our network, device and cloud security platforms will enable our customers to address the complexity and challenges that stem from multi-and hybrid-cloud environments.”
Business-critical data and applications today are accessed by customers, partners and employees from a multitude of locations and networks, both secure and open, using company-issued and personal devices. Attackers know that one of the most effective ways to access enterprise systems is through compromising user passwords or devices. According to the 2017 Verizon Data Breach Report, the majority of hacking related breaches involve stolen or weak passwords. Acknowledging this, Cisco and Duo Security are closely aligned in the approach of designing infrastructure for the extended enterprise where users, devices and applications are the center of the modern security architecture.
The acquisition of Duo Security will:
- Extend intent-based networking into multicloud environments. Cisco currently provides on-premises network access control via its Identity Services Engine (ISE) product. Duo’s software as a service-based (SaaS) model will be integrated with Cisco ISE to extend ISE to provide cloud-delivered application access control.
- Simplify policy for cloud security. By verifying user and device trust, Duo will add trusted identity awareness into Cisco’s Secure Internet Gateway, Cloud Access Security Broker, Enterprise Mobility Management, and several other cloud-delivered products.
- Expands endpoint visibility coverage. Cisco’s in-depth visibility of over 180 million managed devices will be augmented by Duo’s broad visibility of mobile and unmanaged devices.
“Our partnership is the product of the rapid evolution of the IT landscape alongside a modernizing workforce, which has completely changed how organizations must think about security,” said Dug Song, Duo Security’s co-founder and chief executive officer. “Cisco created the modern IT infrastructure, and together we will rapidly accelerate our mission of securing access for all users, with any device, connecting to any application, on any network. By joining forces with the world’s largest networking and enterprise security company, we have a unique opportunity to drive change at a massive scale, and reshape the industry.”
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 more information about Cisco’s intent to acquire Duo Security, read the following blogs from:
- David Goeckeler, EVP and GM, Cisco
- Rob Salvagno, Vice President Corporate Development, Cisco
- Dug Song, Co-founder and CEO, Duo Security
Investor and Media Call
Cisco will host a joint investor, media and industry analyst call on Thursday, August 2, at 6:00 a.m. PDT/9:00 a.m. EDT to discuss the proposed transaction. The call will feature Rob Salvagno, vice president of corporate development at Cisco; David Goeckeler, executive vice president and general manager of Cisco’s networking and security business; and Duo Security CEO Dug Song. To join the webcast, visit https://investor.cisco.com. Toll-free dial-in number is 800-779-1185; or 1-312-470-7366; Passcode: 3862813.Conference call replay will be available approximately one hour after the conclusion of the event through Friday August 10, toll-free at 800-925-0258 or 203-369-3861 (no passcode required). The replay will be available on the Cisco Investor Relations website at http://investor.cisco.com, no password required.
Cisco (NASDAQ:CSCO) is the worldwide technology leader that has been making the Internet work since 1984. Our people, products, and partners help society securely connect and seize tomorrow's digital opportunity today. Discover more at newsroom.cisco.com and follow us on Twitter at @Cisco.
RSS Feed for Cisco: http://newsroom.cisco.com/rss-feeds
Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. To view a list of Cisco trademarks, go to: www.cisco.com/go/trademarks. Third-party trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.
About Duo Security
Duo Security helps defend organizations against data breaches by making security easy and effective. Duo Beyond, the company's category defining zero-trust security platform, enables organizations to provide trusted access to all of their critical applications, for any user, from anywhere, and with any device. The company is a trusted partner to more than 12,000 customers globally, including Dresser-Rand, Etsy, Facebook, K-Swiss, Random House, Yelp, Zillow, Paramount Pictures, and more. Founded in Michigan, Duo has offices in Ann Arbor and Detroit, as well as growing hubs in Austin, Texas; San Mateo, California; and London, UK. Visit Duo.com to find out more.
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the acquisition enabling Cisco customers to securely connect users to any application on any networked device, Duo's unified access security and multi-factor authentication helping Cisco accelerate priority areas across its networking and security portfolio, the expected benefits to Cisco and its customers from completing the acquisition, and plans regarding Duo personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due a variety of factors, including, among other things, that conditions to the closing of the transaction may not be satisfied, the potential impact on the business of Duo due to the uncertainty about the acquisition, the retention of employees of Duo and the ability of Cisco to successfully integrate Duo and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.
+1 617 951 6622
+ 1 604 647 2326
+1 408 424 7210
+1 408 527 6538
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/bf5eafd1-ee22-4df6-ab01-4eeaeaec4b03
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Følg saker fra GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra GlobeNewswire
WillScot Announces Appointment of General Counsel17.6.2019 22:29:00 CEST | Pressemelding
BALTIMORE, June 17, 2019 (GLOBE NEWSWIRE) -- WillScot Corporation (“WillScot”) (Nasdaq: WSC) today announced the appointment of Mr. Hezron Timothy Lopez to serve as the Company’s Vice President, General Counsel & Corporate Secretary, effective June 17, 2019. Mr. Lopez joins WillScot after having served from 2012 to 2018 as Senior Vice President, General Counsel and Corporate Secretary of Herman Miller, Inc., a Nasdaq-listed manufacturer of home and office furniture. From 2008 to 2012, Mr. Lopez served as Associate General Counsel and Head of Merger & Acquisition, Commercial and International for A. O. Smith Corporation, a manufacturer of water heating equipment and water treatment products. About WillScot Corporation Headquartered in Baltimore, Maryland, WillScot (Nasdaq: WSC) is the public holding company for the Williams Scotsman family of companies and is the specialty rental services market leader providing innovative modular space and portable storage solutions across North Americ
Cineworld Group and Cinionic Strike 1,000+ Unit Deal to Roll Out Acclaimed Barco Laser Projectors to Theaters Worldwide17.6.2019 18:05:00 CEST | Pressemelding
Cineworld embarks on global renewal with Cinionic, powered by award-winning projection portfolio and enhanced services KORTRIJK, Belgium, June 17, 2019 (GLOBE NEWSWIRE) -- Cinionic, the Barco, CGS, and ALPD cinema joint venture providing a new visual standard with enhanced services and technology solutions, announces a significant expansion in its relationship with one of the world’s largest theater chains, Cineworld Group plc (LON:CINE), to continue delivering an elevated movie-going experience for audiences worldwide. Cinionic will illuminate Cineworld Group operated theaters in the U.S., EU and UK with enhanced services and award-winning portfolio of Barco laser projectors, including the newly launched Barco Series 4. Over the next 18 months, Cineworld will upgrade and deploy over 1,000 projectors worldwide with Barco Laser solutions to deliver a new visual standard in cinema, supported by Barco Alchemy media servers and maintained for the next decade through Cinionic’s enhanced ser
Rock Tech Engages KBM Resources Group for LiDAR Survey at Georgia Lake17.6.2019 14:15:00 CEST | Pressemelding
VANCOUVER, British Columbia, June 17, 2019 (GLOBE NEWSWIRE) -- Rock Tech Lithium Inc. (the "Company" or “Rock Tech”) (TSX-V: RCK; Frankfurt: RJIB) is pleased to announce that it has engaged KBM Resources Group (“KBM”) to complete a LiDAR and high-resolution imagery survey at its 100%-owned Georgia Lake lithium project in Ontario, Canada. The aerial acquisition of LiDAR and digital photography will cover the Nama Creek main zone and adjacent areas of the Georgia Lake lithium project. The LiDAR survey, with a relatively high resolution of 10 laser points per square metre and an absolute accuracy of 10 cm vertical and 20 cm horizontal, will produce LAS files with classified ground points including a bare earth model and georeferenced orthoimagery. “The ideal time to fly this survey is after the snow melt and before leaf-out,” commented Martin Stephan, Rock Tech’s Chief Executive Officer. “These conditions, combined with a favourable regional weather forecast, shall make for a successful L
Carpenter Technology and Israel Aerospace Industries Announce Collaboration to Produce Commercial Aircraft Additive Parts17.6.2019 14:00:00 CEST | Pressemelding
Le Bourget, FRANCE, June 17, 2019 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE: CRS) and Israel Aerospace Industries (IAI) today announced their collaboration to produce additively manufactured components for a serial production commercial aircraft. This collaboration will result in IAI’s first metallic additively-produced parts, which are expected to provide significant manufacturing benefits and lay the groundwork for future design improvements and enhancements. IAI is working closely with Israel’s Civil Aviation Authority for approval of the parts, which when accomplished will represent the first time this technology has been approved for commercial use in Israel. Carpenter Technology, through its Carpenter Additive business unit, is producing the parts and providing supporting information to assist with their approval. “Together, Carpenter Additive and IAI are pioneering the use of this technology for new platforms and applications,” said Marshall Akins, Carpenter Tec
Major HAProxy Releases Increase Support for Cloud-Native and Containerized Application Architectures17.6.2019 14:00:00 CEST | Pressemelding
Key Community Releases Include HAProxy 2.0, HAProxy Data Plane API and HAProxy Kubernetes Ingress Controller WALTHAM, Mass., June 17, 2019 (GLOBE NEWSWIRE) -- HAProxy Technologies, provider of the world’s fastest and most widely-used software load balancer, today announced that the HAProxy community has released HAProxy 2.0 and several other key products that make it easier to extend, configure and manage HAProxy in cloud-native and containerized environments. The company also announced its inaugural community user conference, HAProxyConf 2019, which will take place in Amsterdam, Netherlands on November 12th and 13th, 2019. “The release of HAProxy 2.0 along with the new HAProxy Data Plane API and HAProxy Kubernetes Ingress Controller mark the culmination of a significant re-architecture of HAProxy to add the flexibility and features needed to optimize support for modern application architectures,” said Willy Tarreau, HAProxy community lead and HAProxy Technologies CTO. “I am extremely
Brookfield Asset Management Announces Results of Annual and Special Meeting of Shareholders17.6.2019 12:55:00 CEST | Pressemelding
BROOKFIELD, NEWS, June 17, 2019 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (TSX: BAM.A, NYSE: BAM, Euronext: BAMA) today announced that at the company’s annual and special meeting of shareholders held on June 14, 2019 in Toronto, over 85% of Class A Limited Voting Shares (“Class A Shares”) voted in favour of a new management share option plan. In addition, at the meeting all eight nominees proposed for election to the board of directors by holders of Class A Shares and all eight nominees proposed for election to the board of directors by the holder of Class B Limited Voting Shares (“Class B Shares”) were elected. Detailed results of the vote for the election of directors are set out below. Management received the following proxies from holders of Class A Shares in regard to the election of the eight directors nominated by this shareholder class: Director Nominee Votes For % Votes Withheld % M. Elyse Allan 731,503,129 99.60 2,926,448 0.40 Angela F. Braly 730,750,957 99.50 3,67