Cisco acquires Splunk in a $28 billion deal

Cisco Acquires Splunk for $28 Billion in Landmark Deal

Cisco, the global technology leader, has announced its largest deal ever with the acquisition of cybersecurity firm Splunk. Valued at approximately £28 billion, the acquisition marks Cisco's strategic move towards expanding its recurring software revenue and gaining AI-based data analysis capabilities.

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Positioning for Growth

Cisco has been actively transitioning to a software-based business model, reducing its reliance on network gear revenue. The acquisition of Splunk aligns with this strategy, enabling Cisco to significantly boost its recurring revenue and enhance its software capabilities.

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Enhancing Cybersecurity

Splunk offers a cutting-edge security information and event management (SIEM) platform that empowers organizations to proactively identify and mitigate potential threats. By integrating Splunk's advanced cybersecurity solutions, Cisco aims to make businesses more resilient and secure in an AI-powered world.

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A Synergistic Future

Cisco CEO Chuck Robbins emphasized the complementary capabilities of Cisco and Splunk in areas such as AI, security, and observability. The collaboration between the two industry leaders will drive innovation and reinforce organizations of all sizes in the face of evolving cybersecurity challenges.

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Approved Deal

The deal has received approval from both Cisco and Splunk's boards. Splunk CEO Gary Steele will assume a leadership position within Cisco and report directly to Robbins, further enhancing the integration and collaboration between the two companies.

In case of termination, Cisco would pay Splunk a fee of £1.48 billion, while Splunk would compensate Cisco with a £1 billion breakup fee.

This significant acquisition solidifies Cisco's position as a frontrunner in the cybersecurity industry, bolstering its software capabilities and AI-driven solutions.

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