Acquisition of Duo Security Fits With Cisco's Security and Security Plan; Maintaining $41 FVE
On Aug. 2, narrow-moat Cisco announced its intention to acquire Duo Security for $2.4 billion in cash and assumed equity awards. The acquisition of the privately held software-as-a-service firm is expected to close during the first quarter of Cisco's fiscal 2019, and we expect no major hurdles for the deal. After increasing our forecasts for Cisco's security segment revenue and anticipated fiscal 2019 acquisition expenditures, we are maintaining our fair value estimate of $41 per share. Accordin...Cisco Systems designs and sells a range of technologies that power the Internet. The company's business is organized into the following three geographic segments: Americas; Europe, Middle East, and Africa; and Asia Pacific, Japan, and China. The company's products and technologies are grouped into the following categories: Infrastructure Platforms; Applications; Security and Other Products. In addition to its product offerings, the company provides a range of service offerings, including technical support services and other services. The company delivers its technologies through software and services. The company's customers include businesses of all sizes, public institutions, governments, and service providers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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