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Cisco Systems,Inc. has proposed a deal to buy the venture capital-backed security firm Duo for an all out cash deal of US $2.35 billion. The deal is an example of the company’s a move toward software and shift to a more recurring revenue with a new subscription based solution.
This is their biggest deal after the acquisition of business performance monitoring software company AppDynamics in the last year, and their largest in cyber security sector since their takeover of Sourcefire in the year 2013 for US $2.7 billion.
The deal proposal showed a positive response as the share price of Cisco rose 1.6% at Thursday.
