![]() ![]() ![]() We undertake no obligation to revise or update any forward-looking statements for any reason. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. ![]() Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified below, under “Item 1A. In addition, any statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, and other characterizations of future events or circumstances are forward-looking statements. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” "momentum," “seeks,” “estimates,” “continues,” “endeavors,” “strives,” “may,” variations of such words, and similar expressions are intended to identify such forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the industries in which we operate and the beliefs and assumptions of our management. All statements other than statements of historical facts are statements that could be deemed forward-looking statements. This latest deal is expected to close in the first quarter of Cisco’s fiscal year 2019.This Annual Report on Form 10-K, including the “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). Over the last few years, Cisco has made several key acquisitions: OpenDNS, Sourcefire, Cloudlock, and now Duo. 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.” “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. “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. And within Cisco’s environment, the technology should feel like a natural fit for CTOs looking for secure two-factor authentication. Instead of issuing key fobs with security codes, Duo’s solution works securely with any device. Duo’s security apparatus lets employees use their own device for adaptive authentication. ![]() The acquisition feels like a good fit for Cisco. Cisco in a statement said they value Michigan’s “resources, rich talent pool, and infrastructure,” and remain committed to Duo’s investment and presence in the Great Lakes State. The company has 700 employees with offices throughout the United States and in London, though the company has remained headquartered in Ann Arbor.Ĭo-founder and CEO Dug Song will continue leading Duo as its General Manager and will join Cisco’s Networking and Security business led by EVP and GM David Goeckeler. Under the terms of the agreement, Cisco is paying $2.35 billion in cash and assumed equity awards for Duo.ĭuo Security was founded in 2010 by Dug Song and Jonathan Oberheide and went on to raise $121.M through several rounds of funding. Cisco today announced its intention to buy Ann Arbor, MI-based security firm, Duo Security. ![]()
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