Cisco announces acquisition of cybersecurity software company Splunk for $28 billion in cash

Cisco announces acquisition of cybersecurity software company Splunk

1. Cisco announced that it will acquire cybersecurity software company Splunk for $157 per share in cash, for a total transaction value of approximately $28 billion.
2. After the transaction is completed, Splunk President and CEO Gary Steele will join Cisco’s senior leadership team and report to Cisco Chairman and CEO Chuck Robbins.
3. Founded in 2003 and headquartered in San Francisco, Splunk is a cybersecurity company that helps businesses monitor and analyze their data to minimize the risk of hackers and resolve some technical issues faster.
4. Robbins said that the combination of the two companies will have the ability to drive the next generation of security and monitoring based on artificial intelligence (AI).
5. Steele said the merger with Cisco will accelerate Splunk’s growth journey and help organizations around the world become more resilient.
6. Cisco said the deal will drive positive cash flow and gross margin growth, as well as earnings per share growth in the second year. Additionally, it will accelerate Cisco's revenue and gross margin growth.
7. This transaction will not affect Cisco’s previously announced stock repurchase plan and dividend plan.
8. The transaction has been unanimously approved by the boards of directors of Cisco and Splunk and is expected to close by the end of the third quarter of 2024.

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