In a significant development in the tech industry, Cisco and Splunk have announced a definitive agreement for Cisco's acquisition of Splunk at $157 per share in cash, totaling approximately $28 billion in equity value.
The acquisition is set to unite two industry leaders in AI, security, and observability, aiming to transition organizations from threat detection and response to threat prediction and prevention.
Cisco, esteemed exhibitor at GITEX GLOBAL, had this to say about the acquisition.
"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."
Backstory on Splunk
Splunk Inc. is a renowned technology company that specializes in enhancing digital resilience and security. They offer innovative solutions to prevent security, infrastructure, and application issues from escalating into major incidents, thereby playing a crucial role in accelerating digital transformation for organizations.
What sets Splunk apart is their unique ability to absorb shocks from digital disruptions and help organizations harness the true value of their data. Through their advanced analytics and observability, Splunk provides invaluable insights across hybrid and multi-cloud environments, enabling businesses to deliver smooth application experiences and make informed, mission-critical decisions.
Their commitment to innovation and building a safer digital world has earned them trust and recognition globally, and is one of the factors that undoubtedly led to Cisco’s acquisition.
Source: Industry News