Finance
Cisco to acquire cybersecurity company Splunk in $28B deal
Cisco announced Thursday it will purchase Splunk, a cybersecurity and analytics firm, for $157 per share in cash or roughly $28 billion in equity value.
“Our combined capabilities will drive the next generation of AI-enabled security and observability,” Cisco CEO Chuck Robbins said in a statement. “From threat detection and response to threat prediction and prevention, we will help make organizations of all sizes more secure and resilient.”
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The purchase was unanimously approved by the boards of directors of both companies and is expected to close by the end of the third quarter of 2024.
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