Forrester launched ZTX for exactly this type of thing (to drive integrations and acquisitions and for the industry to move along the lines of our forward-looking Zero Trust work). This is only achievable with the use of next-generation technologies that are included in the ZTX framework. Zero Trust and ZTX require that organizations have insights, analytics, and control of disparate assets across the organization. This deal, along with Okta’s acquisition of ScaleFT last month, is a validation of Forrester’s ZTX principles. The deal is a win for Zero Trust eXtended (ZTX) principles.This could lead to other larger cloud or network security vendors to follow similar strategies. The Cisco/Duo deal, following on previous Cisco acquisitions such as Cloud Security Gateway vendor CloudLock, suggest the long-term direction is about solutions that can manage access policy to cloud apps, secure the network connection to the cloud, and provide MFA for cloud workloads. While cloud security gateways and IDaaS offerings are experiencing high growth rates, these solutions have focused primarily on capabilities such as shadow IT detection and cloud SSO, with MFA not always being core to the solution. Secure cloud access is emerging as the next security battleground.While the Cisco acquisition brings MFA capabilities into the Cisco fold, the maturity of MFA technologies and the high purchase price suggests this deal is more about getting access to Duo’s high revenue subscription growth and 10,000-plus customers to upsell them on Cisco’s broader network and cloud security portfolio. Many platform vendors like Microsoft ( PhoneFactor) and Salesforce ( Toopher) acquired MFA technologies many years ago or else built it themselves (IDaaS vendors such as Okta and Centrify). While the market has evolved from the traditional single-purpose dedicated hardware tokens to embedded apps in mobile devices, the ability to generate one-time codes for authentication have existed for a long time.
MFA solutions have existed in the market for 20-plus years.
#DUO SECURITY PASSWORD#
This acquisition reflects the growing need and requirement for MFA to replace dated password policies that can be compromised for data exfiltration. Based on Forrester’s estimates of Duo Security’s annual revenue, this acquisition price is more than a 20X revenue multiple, which is considerably higher than most other SaaS company revenue multiples. Founded in 2010, Duo Security has been growing rapidly over the last few years with its multifactor authentication (MFA) offering and has raised over $120 million in venture financing to date. Pfannes said the break-in involved the theft of electronics.Today, Cisco announced that it has acquired Ann Arbor, Michigan/California-based Duo Security for $2.35 billion in cash. 2 investigating a reported breaking and entering, said Ann Arbor police Detective Lt. Break-in reported at Ann Arbor technology company. The Ann Arbor News named Duo the Deals of the Year 2014 Company of the Year due to its extraordinary growth and community involvement.ġ23 North Ashley St.
#DUO SECURITY SERIES#
Originally operating out of the Tech Brewery, Duo relocated to the former Bay Design Store building in Kerrytown in 2013, and moved again to its current headquarters at 123 N. Ashley in 2014.ĭuo hosts a regular series of Tech Talks and participates in many local technology and business awareness initiatives, such as SPARK's A2 Tech Trek. Founded by Dug Song and Jon Oberheide in 2009, the company grew to over 100 employees in five years. Duo Security is a cloud-based access security provider protecting thousands of organizations worldwide.
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