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Cisco finalizes $28 billion purchase of cybersecurity company Splunk

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In Short:

Cisco has completed the $28 billion acquisition of cybersecurity firm Splunk to enhance capabilities in networking, AI, and observability. Cisco paid Splunk $157 per share in cash, totaling $28 billion. Splunk’s stock stopped trading on NASDAQ. Cisco’s CEO anticipates revolutionizing data usage for organizations. The merger aims to provide customers with improved security, observability, networking, and AI. Partners like Accenture look forward to the collaboration’s benefits.

US telecom gear maker Cisco has successfully completed the acquisition of cybersecurity firm Splunk for a whopping $28 billion. This move aims to enhance Cisco’s capabilities in networking, AI, and observability.

Acquisition Details

As per the agreement, Cisco paid Splunk $157 per share in cash, totaling approximately $28 billion in equity value. Following this, Splunk’s shares have ceased trading on the NASDAQ.

Chair and CEO of Cisco, Chuck Robbins, expressed, “We are pleased to welcome Splunk to Cisco. Together, we aim to revolutionize how customers harness data for seamless connectivity and protection across their organization, fueling the AI revolution.”

Executive Vice President of Splunk, Gary Steele, stated, “The merger of Cisco and Splunk will deliver unparalleled visibility and insights throughout an organization’s digital landscape. This will ensure unmatched resilience through a robust security and observability product portfolio.”

Enhanced Offerings

Cisco and Splunk will empower customers with advanced solutions in security, observability, networking, AI, and economics. This integration will enable clients to unlock higher levels of business value.

Group Vice President at IDC, Stephen Elliot, remarked, “By finalizing this deal, Cisco has introduced a distinctive array of solutions tailored to networking, security, and operations professionals. Customers can now leverage enhanced business value with the amalgamation of channel and AI investments.”

Chair and CEO of Accenture, Julie Sweet, congratulated Cisco on the acquisition of Splunk. She emphasized the long-standing partnerships with both entities and eagerly anticipates the prospects this collaboration will bring for clients.

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