cisco Archives - Republic Aeon https://republicaeon.com/tag/cisco/ Know Your World! Fri, 22 Sep 2023 15:37:14 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 https://republicaeon.com/wp-content/uploads/2022/11/cropped-RA_LIGHT_FINAL-removebg-preview-32x32.png cisco Archives - Republic Aeon https://republicaeon.com/tag/cisco/ 32 32 Cisco beefs up cybersecurity play with $28 bn Splunk deal https://republicaeon.com/cisco-beefs-up-cybersecurity-play-with-28-bn-splunk-deal/ Fri, 22 Sep 2023 15:35:11 +0000 https://republicaeon.com/?p=24218 On Thursday, Cisco Systems announced that it has reached an agreement to acquire the cybersecurity startup Splunk for approximately $28 billion. This transaction would be the company’s largest acquisition to date and would help strengthen its network security division. A premium of approximately 31% is reflected in Cisco’s offer price of $157 per share in cash compared to Splunk’s […]

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]]> On Thursday, Cisco Systems announced that it has reached an agreement to acquire the cybersecurity startup Splunk for approximately $28 billion. This transaction would be the company’s largest acquisition to date and would help strengthen its network security division.

A premium of approximately 31% is reflected in Cisco’s offer price of $157 per share in cash compared to Splunk’s closing price on Wednesday.

“Combined, Cisco and Splunk will become one of the world’s largest software companies and will accelerate Cisco’s business transformation to more recurring revenue,” the companies stated in a joint statement. The statement was released shortly after the companies announced their intention to merge.

In the premarket, shares of Cisco were trading roughly 5% lower, whilst trade in Splunk stock was halted.

The transaction, which was given the go light by the boards of directors of both Cisco and Splunk, is anticipated to be finalized by the end of the third quarter of 2024, provided that it receives the necessary permissions from the relevant authorities.

Cisco relied on the advice of Tidal Partners, Simpson Thacher & Bartlett, and Cravath, Swaine & Moore as its consultants. Splunk was advised by Qatalyst Partners, Morgan Stanley & Co., and Skadden, Arps, Slate, Meagher & Flom LLP, respectively.

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Cisco beefs up cybersecurity play with bn Splunk deal

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