Cisco completes $28 bn acquisition of cybersecurity firm Splunk, ET Telecom | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware

NEW DELHI: US telecom gear maker Cisco has completed the $28 billion acquisition of cybersecurity firm Splunk to strengthen its capabilities in multiple areas, such as networking, AI, and observability.

Under the terms of the agreement, Cisco paid Splunk $157 per share in cash, representing approximately $28 billion in equity value, according to a media statement released on Monday. Consequently, Splunk’s stock has stopped trading on the NASDAQ.

“We are thrilled to officially welcome Splunk to Cisco,” said Chuck Robbins, Chair and CEO of Cisco. “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 AI revolution.”

“Uniting Splunk and Cisco will bring tremendous value to our joint customers worldwide,” said Gary Steele, Executive Vice President, General Manager, Splunk. “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.”

Cisco and Splunk will provide customers with enhanced security, observability, networking, AI, and economics, the statement said.

Stephen Elliot, Group Vice President, I&O, Cloud Operations, and DevOps at IDC said with the closing of the deal, Cisco has created a unique set of solutions tailored to 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,” he said.

“Accenture congratulates Cisco on the acquisition of Splunk,” said Julie Sweet, Chair and CEO Accenture. “We have enjoyed long-term partnerships with both companies and look forward to the opportunities this collaboration presents to our clients in the future.

  • Published On Mar 19, 2024 at 08:31 AM IST

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National Cyber Security