Cisco today laid out $2.35 billion in cash and stock for network- identity, authentication and security company Duo.\nAccording to Cisco, Duo helps protect organizations against cyber breaches through the company\u2019s cloud-based software that verifies the identity of users and the health of their devices before granting access to applications with the idea of preventing breaches and account takeover.\n\nA few particulars of the deal include:\n\nCisco currently provides on-premises network access control via its Identity Services Engine (ISE) product. Duo's software, a service-based (SaaS) model, will be integrated with Cisco ISE to to provide cloud-delivered application access control.\nBy 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 of its cloud-delivered products.\nCisco's visibility of over 180 million managed devices will be augmented by Duo's broad visibility of mobile and unmanaged devices.\n\nCisco said that Integration of its network, device and cloud security platforms with Duo Security\u2019s zero-trust authentication and access products will let customers quickly secure users to any application on any networked device. About 75% of Duo\u2019s customers are up and running in less than a week, compared to six to 12 months for comparable products, Cisco says. Duo has more than 12,000 customers, including over 100 of Fortune 500 companies, wrote Rob Salvagno, Cisco vice president of\u00a0 Corporate Business Development in a blog about the buy.\n\u201cAt first glance, the initial observation for why Cisco is acquiring a unified security access and multi-factor authentication business likely would be to complement our cloud security portfolio,\u201d wrote David Goeckeler, Cisco\u2019s executive vice president and general manager of its Networking and Security Business in a blog about the acquisition.\u00a0\n\u201cWhile this assumption is correct, Duo\u2019s relevance within the context of our intent-based networking strategy spans across the entire extended enterprise. It is a highly strategic addition and enables Cisco to deliver what our customers require in today\u2019s multicloud world \u2013 the ability to securely connect any user to any application on any network,\u201d Goeckeler stated.\u00a0\n\u201cThe Duo acquisition moves Cisco in a new direction \u2014 identity and access. It\u2019s a seminal development for IT teams deploying multicloud models \u2014 the integration of networking, security and identity all delivered from a cloud-based, frictionless platform," Goeckeler wrote.\nThe deal is Cisco\u2019s biggest since its $3.7-billion buy of performance-monitoring software company AppDynamics in 2017, and its largest in the cyber security sector since its $2.7-billion Sourcefire purchase in 2013. \u00a0Duo, founded in 2009, has about 700 employees working from offices in Ann Arbor, Mich.; Detroit, Austin, Texas; San Mateo, Calif. and London. \u00a0Cisco said it expects the deal to close in the first quarter of Cisco\u2019s fiscal year 2019.\nAccording to a report from MarketWatch Duo said in early 2017 that it had recorded $73 million in annual recurring revenue in 2016, growing that total 135% from the year before. In a similar announcement in early 2018, Duo said it had surpassed $100 million in recurring revenue.\u00a0 Duo Security was valued at about $1.17 billion as of its last funding round.\nCisco Security topped $2 billion in annual revenue for the first time in the 2017 fiscal year, reporting $2.15 billion in sales out of Cisco\u2019s total of $48 billion.