Aug 2, 2018

Cisco Systems to buy Duo Security

Illustration: Sarah Grillo/Axios

Cisco Systems just announced that it will buy Duo Security, an Ann Arbor, Mich.-based provider of access security and multi-factor authentication software, for $2.35 billion in cash.

The big picture: This comes less than 24 hours after Reddit disclosed that its own two-factor authentication solution failed, because hackers intercepted some mobile text messages that contained verification codes.

  • Duo had raised around $120 million in VC funding, most recently at a $1.2 billion valuation, from firms like Benchmark, Meritech, Lead Edge Capital, Cisco, Workday, Redpoint Ventures, Geodesic Capital, Index Ventures and True Ventures.

Between the lines: Duo's solution begins with 2FA, but goes deeper. One of the current hip phrases in security is Zero Trust, where you continually reevaluate anything connected to a network before allowing it to do anything new.

  • Duo is in that space. So rather than trust any computer that logs into a network to access anything on the network, you continually make sure the things that are logged on are supposed to be there.

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Biden bets it all on South Carolina

Illustration: Eniola Odetunde/Axios

COLUMBIA, S.C. — Most Joe Biden admirers Axios interviewed in South Carolina, where he's vowed to win today's primary, said they're unfazed by his embarrassing losses in Iowa, New Hampshire and Nevada.

Why it matters: Biden has bet it all on South Carolina to position himself as the best alternative to Bernie Sanders — his "good buddy," he tells voters before skewering Sanders' record and ideas.

Coronavirus updates: Market ends worst week since financial crisis

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The stock market ended its worst week since the financial crisis, prompting the Fed to release a statement. Meanwhile, the WHO warned that countries are losing their chance to contain the novel coronavirus and raised its global risk assessment to "very high" Friday.

The big picture: COVID-19 has killed more than 2,860 people and infected more than 84,000 others in over 60 countries and territories outside the epicenter in mainland China. The number of new cases reported outside China now exceed those inside the country.

Go deeperArrowUpdated 12 hours ago - Health

California coronavirus: Latest case has no recent history of international travel

Gov. Gavin Newsom. Photo: Kevork Djansezian/Getty Images

A new case of the novel coronavirus in California was announced on Friday after Gov. Gavin Newsom said Thursday that 33 people had tested positive for the virus, noting the risk to the public remains low.

What's new: An adult woman with chronic health conditions in Santa Clara County who "did not recently travel overseas" or come into contact with anyone known to be ill was confirmed to have contracted the coronavirus on Friday by CDC and California Department of Public Health officials.

Go deeperArrowUpdated 12 hours ago - Health