Cisco may be acquiring asset intelligence firm Axonius for $2 billion.

Ctech by Calcalist reported the network giant is in advanced talks with the New York-headquartered firm, a claim which Axonius denied.

“Axonius is not in talks to be acquired by Cisco. Our strategy is to build a durable, independent company," a representative told the publication, saying it attention was “focused on execution, serving our customers, and continuing our growth.”

The firm was founded in 2017 by veterans of the Israeli Unit 8200 military security branch. Those founders include CEO Dean Sysman, CTO Ofri Shur, and CPO Avidor Bartov.

Axonius specializes in cybersecurity asset management (CAM), with its software managing assets such as endpoints, users, and cloud to identity any security gaps and misconfigurations, alongside coverage issues.

The firm, which is valued at $2.6 billion, has raised $700 million to date, with a Series E extension last spring seeing investor such as Accel and Silver Lake top up its coffers with $200 million. Clients in its roster include Ingram Micro, Gigamon, and Dolby.

If the deal takes place, it would be Cisco's most notable since its $28 billion acquisition of Splunk in 2024. The firm has since concentrated on buying cloud security firms (Isovalent, DeepFactor), with a more recent pivot to AI cybersecurity through acquiring Robust Intelligence and the U.K.'s Deeper Insights, both in 2024.

Axonius would also mark its first deal in the asset space since its 2021 buyout of risk-based vulnerability management platform Kenna Security.

Enterprise software vendors are also creeping on the asset security space, with ServiceNow snapping up Axonius rival Armis for $7.75 billion as 2025 drew to a close.