Cisco completes $28 billion acquisition of cybersecurity company Splunk

Cisco Systems has completed its $28 billion blockbuster acquisition of Splunk, the companies said Monday, in a move to combine the two companies’ cybersecurity and observability strengths and create what company executives have described as a distinctive, AI-powered data platform.

Cisco said it had completed the all-cash deal, paying $157 per share representing approximately $28 billion in equity value. The companies said the trading of Splunk stock on the NASDAQ exchange ceased prior to the opening of trading today.

“As one of the world’s largest software companies, we will revolutionize the way our customers leverage data to connect and protect every aspect of their organization as we help power and protect the AI revolution,” Cisco Chief Executive Officer, Chuck Robbins, said in a statement.
Cisco is expected to integrate Splunk technologies across its products, including its Full Stack Observability, Extended Detection and Response (XDR), Security Cloud, ThousandEyes and AppDynamics platforms.

"Uniting Splunk and Cisco will bring tremendous value to our joint customers worldwide," said Gary Steele, Executive Vice President, General Manager, Splunk. 

Cisco and Splunk have complementary capabilities across AI, security, and observability. "The completion of the acquisition, first announced on September 21, last year, sets “the foundation for delivering unparalleled visibility and insights across an organization’s entire digital footprint,” the companies’ joint statement said.

“Cisco and Splunk is a transformative combination that will allow customers to do things that weren't possible before,” said Stephen Elliot, Group Vice President, I&O, Cloud Operations, and DevOps at International Data Corporation (IDC) in a statement. 

Elliot added that with the close, Cisco has created a unique set of solutions for networking, security, and operations executives in the market. "When you add that to their channel and AI investments, customers should be considering the higher levels of business value that can now be unlocked,”  he said.