Cisco to Acquire Splunk in $28 Billion Cybersecurity Deal
Cisco is acquiring the cybersecurity company Splunk for $157 per share in an all-cash deal worth approximately $28 billion. The digital communications conglomerate will finance the acquisition using a combination of cash and debt. The move marks one of Cisco's largest and continues the company's recent streak of cybersecurity acquisitions in 2023. Analyst reactions to the deal were mixed, with some concerned about product overlap, regulatory scrutiny of the large price, and Splunk's "underwhelming" pivot to cloud offerings. The deal is expected to close in the third quarter of 2024, pending any regulatory or other approvals.’
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00:00 It's Benzinga and here's what's on the block.
00:02 Cisco is acquiring the cybersecurity company Splunk for $157 per share in an all-cash deal
00:07 worth approximately $28 billion.
00:10 The digital communications conglomerate will finance the acquisition using a combination
00:14 of cash and debt.
00:15 The move marks one of Cisco's largest and continues the company's recent streak of cybersecurity
00:19 acquisitions in 2023.
00:22 Analyst reactions to the deal were mixed, with some concerned about product overlap,
00:26 regulatory scrutiny of the large price, and Splunk's underwhelming pivot to cloud offerings.
00:30 The deal is expected to close in the third quarter of 2024, pending any other regulatory
00:35 or other approvals.
00:36 For all things money, visit Benzinga.com.
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