Tech giant Cisco completes landmark acquisition of Splunk

Networking giant Cisco Systems has completed its acquisition of software company Splunk in a deal valued at approximately $28bn.

The move unites two industry leaders and promises significant benefits for customers, partners and developers.

Cisco and Splunk notified NASDAQ of the completion of the acquisition, with Splunk’s common stock ceasing trading on the exchange before the morning of March 19.

The transaction is expected to boost the networking major’s cash flow and profitability within the next two fiscal years while accelerating revenue growth.

“We are thrilled to officially welcome Splunk,” said Chuck Robbins, chair and CEO of Cisco. “As one of the world’s largest software companies, we will revolutionise the way our customers leverage data to connect and protect every aspect of their organisation as we help power and protect the AI revolution.”

Gary Steele, EVP and general manager, Splunk, said uniting the companies would “bring tremendous value to our joint customers worldwide”.

It’s a new day for your data. ☀️
Cisco, now supercharged by @Splunk, will revolutionize the way customers use data to power and protect the AI revolution. Learn more: https://t.co/kYAMh5MGzx pic.twitter.com/R1BDG9ZPe4

— Cisco (@Cisco) March 18, 2024

Cisco acquiring Splunk to benefit customers

Customers will gain access to a comprehensive security and observability solution, providing unparalleled visibility across their entire digital infrastructure.

This strategic move positions the companies as influential players in data-driven solutions and the future of AI.

Over the next several months, customers can expect several new product innovations across the company’s portfolio.

Discover the future of #innovation on @Bloomberg as Cisco Chair and CEO @ChuckRobbins and EVP and GM, Splunk @garylsteele discuss the seamless integration of the companies. Learn more: https://t.co/qIOyzHBNSo #observability #cybersecurity pic.twitter.com/wOLjULZRbO

— Cisco (@Cisco) March 18, 2024