Subj : Cisco acquires Splunk in a whopping multibillion-dollar deal
To   : All
From : TechnologyDaily
Date : Fri Sep 22 2023 12:45:03

Cisco acquires Splunk in a whopping multibillion-dollar deal

Date:
Fri, 22 Sep 2023 11:33:37 +0000

Description:
Cisco has acquired Splunk in a deal worth around $28 billion.

FULL STORY
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Cisco has confirmed it will acquire California-based cybersecurity and 
software company Splunk. 

The deal is expected to be worth around $28 billion, with Cisco confirming a 
valuation of $157 per share, which it will purchase in cash. 

The hope is that in closing this deal, both comapnies will be able to 
piggy-back off one anothers success and build a better resilience moving 
forward, each with their own experience in AI, security, and observability. 
Splunk sold to Cisco for $28 billion 

Cisco Chair and CEO Chuck Robbins said: We're excited to bring Cisco and 
Splunk together. Our combined capabilities will drive the next generation of 
AI-enabled security and observability. 

The companies also confirmed that Splunks president and CEO, Gary Steele, 
will join Cisco's Executive Leadership Team in a new role that will see him 
report directly to Robbins. 

For other employees, Cisco said: The acquisition will unite two Great Places 
to Work with a shared passion for innovation and inclusion and will remain a 
great place to work and the premier place for software talent. 

Together, both companies have outlined a clear goal to help organizations 
handle large amounts of data, in turn aiding mission-critical decisions. They 
will do this with the help of emerging generative AI technologies. 

The new challenges that come with GenAI, along with multicloud adoption and 
an increased number of attack surfaces, are key to how the companies will 
deliver going forward. 

Cisco hopes that the deal, which is now confirmed, will be complete by the 
end of the third quarter of 2024, subject to approval and closing conditions. 
Full details of the announcement can be found in the joint press release . 
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Link to news story:
https://www.techradar.com/pro/cisco-acquires-splunk-in-a-whopping-multibillion
-dollar-deal


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