A Game-Changing Move: Cisco's Acquisition of Splunk to Revolutionize Cyber Defense

A Game-Changing Move: Cisco's Acquisition of Splunk to Revolutionize Cyber Defense

Cisco and Splunk

Cisco said that it is making its largest acquisition to date: the $28 billion cash purchase of cybersecurity software provider Splunk.

In a formal deal announced today, Cisco (NASDAQ: CSCO) and Splunk (NASDAQ: SPLK), the market leader in cybersecurity and observability, agreed that Cisco would buy Splunk for $157 per share in cash, or around $28 billion in equity. Gary Steele, president and chief executive officer of Splunk, will join Cisco's Executive Leadership Team upon acquisition's completion and will report to chair and CEO Chuck Robbins.

According to Gary Steele, president and CEO of Splunk, "joining with Cisco represents the next phase of Splunk's growth journey, accelerating our mission to help organizations worldwide become more resilient, while delivering immediate and compelling value to our shareholders."

"Together, we will create a worldwide security and observability leader that uses data and AI to disrupt the market and provide outstanding customer results. As we bring together two reputable and mission-driven organizations, we expect our community of Splunk employees to benefit from even greater opportunities. We're thrilled to join forces with a long-standing and trusted partner who shares our passion for innovation and first-rate customer experience, Steele continued.

With the purchase, Cisco will move faster towards its goal of securely connecting everything so that everything is possible, building on Splunk's history of assisting businesses in enhancing their digital resilience. Organizations will become more safe and resilient because to the collaboration of these two well-known pioneers in AI, security, and observability.

Every organization relies on data to manage their operations and make mission-critical choices every day in today's hyperconnected world. The acceptance and acceleration of generative AI, growing danger surfaces, and various cloud environments all contribute to a degree of complexity that is unprecedented for organizations to deal with. Organizations want a better method for managing, safeguarding, and releasing data's actual value while maintaining digital resilience.

With the help of the complementing capabilities of Cisco and Splunk, clients of the firm will be able to provide slick application experiences that drive their digital enterprises across hybrid and multi-cloud environments. Given their considerable scale, data visibility, and reputation for reliability, Cisco and Splunk are well-positioned to assist businesses in safely using AI.

By joining forces, these two businesses will be able to satisfy the demands of clients of all sizes through enhanced global scale, rapid innovation, and higher investments in innovative solutions.

The addition of Splunk to Cisco will also strengthen their respective reputations as purpose-driven businesses with solid cultures, shared values, and highly skilled workforces. With a shared commitment for innovation and inclusivity, the two "Great Places to Work" that will be combined through the transaction will continue to be excellent places to work and the top location for software talent.
Official Statement below
Cisco to Acquire Splunk, to Help Make Organizations More Secure and Resilient in an AI-Powered World