Security News > 2023 > September > Cisco spends $28B on data cruncher Splunk in cybersecurity push

Cisco is making its most expensive acquisition ever - by far - with an announcement it's buying data crunching software firm Splunk for $157 per share, or approximately $28 billion.

The transaction, which Cisco said it expects to close in calendar Q3 of 2024, was already unanimously approved by the boards of both companies, and once completed will see Splunk CEO Gary Steele join Cisco's exec team as a direct report to Cisco CEO Chuck Robbins.

"With Splunk, Cisco is adding one of the world's best data platforms to Cisco's robust security portfolio."

"Cisco and Splunk will continue to operate as independent companies until the acquisition closes," a Cisco spokesperson told The Register - but after that all bets are off, and no specifics were mentioned.

"As we progress through joint integration planning prior to the close of the acquisition, Cisco and Splunk leadership will begin to plan for how we will bring our organizations together," the spokesperson said.

Cisco is holding an investor webcast today, during which it'll likely share additional details of the Splunk acquisition.

News URL

https://go.theregister.com/feed/www.theregister.com/2023/09/21/cisco_acquires_data_crunching_firm/