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Network specialist Cisco has announced the acquisition of Splunk, which specializes in cybersecurity through data monitoring and analysis. A new software giant is on the way: Cisco Systems
Network specialist Cisco has announced the acquisition of Splunk, which specializes in cybersecurity through data monitoring and analysis.
A new software giant is on the way: Cisco Systems has announced the acquisition of Splunk Inc. and thus increase its cybersecurity capabilities. The deal is valued at $157 per share, for a total consideration of about $28 billion.
This transaction will allow both companies to improve their customers’ ability to detect and prevent potential threats, Cisco said. This should make companies safer and more resilient.
The combination of Cisco and Splunk can be seen as a new giant in the field of AI in cybersecurity and data processing. This development has been underway for some time, with Cisco strengthening its AI-driven cybersecurity capabilities with the acquisition of Armorblox in June. The question of whether Cisco can be a security company in addition to a network specialist has now been answered positively.
The transaction is expected to be completed by the end of the third quarter of calendar year 2024. It has already been unanimously approved by both boards. Splunk CEO Gary Steele joins Cisco’s Executive Leadership Team, reporting directly to CEO Chuck Robbins.
Cisco also expects the deal to have a positive impact in terms of cash flow. The company expects this acquisition to increase sales in the near future.
Source: IT Daily
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