Cisco to Acquire Splunk for $28 Billion in Major Cybersecurity Software Deal

Cisco plans to acquire Splunk for $28 billion in equity value, at $157 per share.
Analysts see this as Cisco's aggressive move into the AI-driven cybersecurity software market.
Splunk shares jumped over 20% on the news, while Cisco shares declined.
The deal presents a 31% premium over Splunk's previous closing price.
Splunk CEO Gary Steele will join Cisco's executive team under CEO Chuck Robbins.

investopedia.com

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Posted 9/21/2023, 2:44:49 PM