New York — Cisco Systems is in advanced talks to acquire Duo Security, a venture capital-backed cyber-security company, as it seeks to expand its offerings in cloud computing, according to people familiar with the matter. The deal, which the sources said could reach $2bn, would be the biggest acquisition for Cisco since its $3.7bn purchase of business performance monitoring software company AppDynamics last year, and its largest in the cyber-security sector since its $2.7bn takeover of Sourcefire in 2013. If negotiations are completed successfully, a deal between Cisco and Duo could be announced in the coming days, the sources said, asking not to be identified because the matter is confidential. Cisco declined to comment while Duo did not respond to a request for comment. Duo’s platform allows users to verify their identity with a two-step authentication, Its investors include Index Ventures, Workday, Redpoint Ventures and True Ventures. Cisco, the world’s largest networking product...
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