Cisco and Splunk have announced an agreement under which Cisco acquires Splunk for $157 per share in cash, representing approximately $28 billion in equity value.
Based in San Francisco, Splunk’s security capabilities are expected to complement Cisco’s existing portfolio, particularly in the areas of AI security and observability across hybrid and multi-cloud environments.
“Our combined capabilities will drive the next generation of AI-enabled security and observability,” said Chuck Robbins, chairman and CEO of Cisco. “From threat detection and response to threat prediction and prevention, we will help make organizations of all sizes more secure and resilient.”
“Uniting 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,” said Gary Steele, president and CEO of Splunk. “Together, we will form a global security and observability leader that harnesses the power of data and AI to deliver excellent customer outcomes and transform the industry.”
The acquisition has been unanimously approved by the boards of directors of both Cisco and Splunk. It is expected to close by the end of the third quarter of calendar year 2024, subject to regulatory approval and other customary closing conditions including approval by Splunk shareholders. Upon close of the acquisition, Splunk President and CEO Gary Steele will join Cisco’s Executive Leadership Team reporting to Chair and CEO Chuck Robbins.
The combination of Cisco and Splunk will likely help move organizations from threat detection and response to threat prediction and prevention.