Cybersecurity firm Cisco has completed its acquisition of Splunk for $28 billion, a deal aimed at enhancing its portfolio with Splunk's AI, security, and observability technologies.
Expected to boost Cisco's cash flow and non-GAAP gross margins by fiscal 2025 and earnings per share by 2026, this move also aims to accelerate revenue growth and margin expansion.
“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 organisation’s entire digital footprint, delivering an unprecedented level of resilience through the most extensive and powerful security and observability product portfolio on the market.”
Following the acquisition, Splunk's shares have stopped trading on NASDAQ from today.
