Cisco has officially completed its acquisition of software company Splunk to expand its cybersecurity offerings. The acquisition aims to provide organizations with a unified view of their digital landscape, enhancing their ability to defend against cyber threats and prevent disruptions.
“As one of the world’s largest software companies, we will revolutionize the way our customers leverage data to connect and protect every aspect of their organization as we help power and protect the (artificial intelligence) AI revolution,” said Chuck Robbins, chair and CEO of Cisco.
Cisco acquired Splunk for $157 per share in cash, amounting to approximately $28 billion in equity value. The transaction is projected to contribute positively to Cisco’s cash flow and non-GAAP earnings per share in the coming fiscal years, ultimately accelerating revenue growth and gross margin expansion.
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The merger of Cisco and Splunk promises several benefits for customers, partners, and developers alike. These include enhanced security, observability, networking, and AI capabilities, all of which are crucial for navigating the complexities of today’s digital landscape. It is also expected to streamline operations and drive cost savings for businesses.
Security
“The combination of Cisco and Splunk will provide truly comprehensive visibility and insights across an organization’s entire digital footprint, delivering an unprecedented level of resilience through the most extensive and powerful security and observability product portfolio on the market,” said Gary Steele, executive vice president, general manager, Splunk.
Customers can anticipate a wave of product innovations resulting from the integration of Splunk into Cisco’s portfolio. These developments will be showcased at upcoming events, including Cisco Live and .conf24.
Following the completion of the acquisition, Splunk’s common stock ceased trading on NASDAQ. Cisco and Splunk have formally notified NASDAQ of the transaction and initiated the process of delisting Splunk’s shares with the Securities and Exchange Commission.