Press release
Cisco to Acquire Splunk, to Help Make Organizations More Secure and Resilient in an AI-Powered World
News Summary Together, Cisco and Splunk will help move organizations from threat detection and response to threat prediction and preventionCombined, Cisco and
About this update from Cisco Systems, Inc.
[{"type":"text","content":"News Summary\nTogether, Cisco and Splunk will help move organizations from threat detection and response to threat prediction and preventionCombined, Cisco and Splunk will become one of the world's largest software companies and will accelerate Cisco's business transformation to more recurring revenueExpected to be cash flow positive and gross margin accretive in first fiscal year post close, and non-GAAP EPS accretive in year 2. Will accelerate revenue growth and gross margin expansionUnites two \"Great Places to Work\" with similar values, strong cultures, and talented teamsThe combination of these two innovative leaders makes them well positioned to lead in security and observability in the age of AISAN JOSE, Calif. and SAN FRANCISCO, Sept. 21, 2023 /PRNewswire/ -- Cisco (NASDAQ: CSCO) and Splunk (NASDAQ: SPLK), the cybersecurity and observability leader, today announced a definitive agreement under which Cisco intends to acquire Splunk for $157 per share in cash, representing approximately $28 billion in equity value. 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.\n\n \n \n \n \n \n \n\n \nThe acquisition builds on Splunk's heritage of helping organizations enhance their digital resilience and will accelerate Cisco's strategy to securely connect everything to make anything possible. The combination of these two established leaders in AI, security and observability will help make organizations more secure and resilient.\n\"We're excited to bring Cisco and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability,\" said Chuck Robbins, chair 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.\"\n\"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.\n\"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. We're thrilled to jo...