Cisco, a worldwide technology company, has announced the acquisition of Splunk, an American software company. The company acquired Splunk for $157 per share in cash, representing approximately $28 billion in equity value.
Cisco and Splunk notified NASDAQ of the completion of the acquisition and requested that NASDAQ file a notification of delisting with the Securities and Exchange Commission (the "SEC") on Splunk’s behalf. Splunk’s common stock ceased trading on NASDAQ before trading opened today.
Cisco will bring the full power of the network, together with market-leading security and observability solutions, to deliver a real-time unified view of the entire digital landscape, helping teams proactively defend critical infrastructure, prevent outages, and refine the network experience, according to a company statement.
“As one of the world’s largest software companies, we will revolutionise the way our customers leverage data to connect and protect every aspect of their organization as we help power and protect the AI revolution,” said Chuck Robbins, Chair and CEO of Cisco.
“Cisco and Splunk are a transformative combination that will allow customers to do things that weren’t possible before,” said Stephen Elliot, Group Vice President, I&O, Cloud Operations, and DevOps at IDC. “With the close, Cisco has created a unique set of solutions for networking, security, and operations executives in the market. When you add that to their channel and AI investments, customers should be considering the higher levels of business value that can now be unlocked.”
The combination of Cisco and Splunk will provide customers with better security, observability, networking, AI, and economics, as per the company statement.
Over the next several months, customers can expect new product innovations across the portfolio with the integration of Splunk. Many of these innovations and more will be showcased at Cisco Live, June 2-4, 2024, and conf24, June 11–14, 2024.
