Under the phrases of the deal, Cisco paid Splunk $157 in money per share, representing a inventory worth of roughly $28 billion, in keeping with a media assertion launched Monday. As a outcome, Splunk inventory ceased buying and selling on the Nasdaq.
Chuck Robbins, Chairman and CEO of Cisco, mentioned: “As one of many world’s largest software program firms, we’re serving to to drive and defend his AI revolution whereas revolutionizing the best way our clients leverage information to attach and safe each facet of their organizations. To go.”
“The integration of Splunk and Cisco brings super worth to our joint clients world wide,” mentioned Gary Steele, government vp and normal supervisor of Splunk. “The mixture of Cisco and Splunk offers really complete visibility and perception throughout a company’s complete digital footprint, enabling unprecedented ranges of resiliency by way of the broadest and strongest safety and observability product portfolio in the marketplace. Power is realized.”
Cisco and Splunk will supply clients enhanced safety, observability, networking, AI and economics, the businesses mentioned in an announcement.
With the closing of this transaction, Cisco has created a novel set of options custom-made for networking, safety, and operations executives out there, mentioned Stephen Elliot, group vp of I&O, cloud operations, and DevOps at IDC. mentioned. “Add this to investments in channels and AI, and clients want to contemplate the upper degree of enterprise worth they will unlock going ahead,” he mentioned.
“Accenture congratulates Cisco on its acquisition of Splunk,” mentioned Julie Sweet, Accenture Chairman and CEO. I’m trying ahead to the chance.” Published March 19, 2024 8:31 AM IST
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