Cisco has completed its $28 billion acquisition of Splunk, aiming to combine their cybersecurity and observability strengths to create an AI-powered data platform. The all-cash deal represents approximately $28 billion in equity value, with Cisco CEO Chuck Robbins expressing excitement about revolutionizing the way customers leverage data. The joint statement from the companies highlights the potential for new product innovations and revenue streams through their collective partner ecosystem, emphasizing the delivery of unparalleled visibility and insights across organizations' digital footprints.
Cisco has completed the acquisition of Splunk, positioning itself to provide unparalleled visibility and insights across an organization’s digital footprint. The acquisition allows Cisco to combine the power of the network with market-leading security and observability solutions, making it one of the largest software companies globally. The move aims to revolutionize the way customers leverage data to connect and protect every aspect of their organization, particularly in powering and protecting the AI revolution. The transaction details include Cisco acquiring Splunk for $28 billion in equity value, with expectations of positive cash flow and non-GAAP gross margin accretion in the coming fiscal years.
Cybersecurity firm Splunk, which is set to be acquired by Cisco in a $28 billion deal, has announced plans to lay off approximately 7% of its global workforce, or around 500 employees. The layoffs are not directly related to the acquisition, according to Splunk CEO Gary Steele. Most of the affected employees are based in the U.S. and will receive severance and health-care packages. The restructuring is expected to incur about $42 million in costs for Splunk. The deal between Splunk and Cisco is expected to close by the third quarter of 2024.
Elon Musk suggests that X (formerly Twitter) may start charging users a monthly fee to combat increasing bot activity on the platform. OpenAI introduces DALL-E 3, an upgraded version of its text-to-image tool that allows subscribers to request images through conversations with the AI chatbot. Cisco acquires Splunk for $28 billion, gaining an observability platform to enhance its security business. TechCrunch's Matthew Panzarino reviews the iPhone 15 and iPhone 15 Pro Max, highlighting their capabilities and potential for growth. Microsoft researchers accidentally expose sensitive data while publishing open source training data on GitHub.
An unknown investor achieved a staggering 45,650% return on investment by purchasing 127 call options on Splunk stock ahead of Cisco's acquisition announcement. The investor's $22,000 investment turned into a $10 million profit in just one day. The Securities and Exchange Commission is likely to launch an investigation into the highly anomalous trade, as it raises suspicions of insider trading.
Cisco CEO Chuck Robbins is optimistic about the company's $28 billion acquisition of Splunk, stating that there are no significant regulatory hurdles and expects the deal to close within 12 months. Robbins believes that the acquisition will put Cisco at the forefront of artificial intelligence and enable Splunk to leverage Cisco's global channel ecosystem. Splunk CEO Gary Steele expressed excitement about the go-to-market opportunities that the acquisition will bring.
Cisco Systems has enlisted the services of Tidal Partners, a new mergers and acquisitions advisory firm, for its $28 billion acquisition of cybersecurity firm Splunk. Tidal Partners, founded by former Centerview Partners dealmakers David Handler and David Neequaye, served as the sole financial adviser to Cisco, while Qatalyst Partners and Morgan Stanley advised Splunk. The win for Tidal Partners comes as more technology bankers launch their own firms amid a slowdown in dealmaking in the sector.
Cisco Systems has agreed to acquire cybersecurity firm Splunk for approximately $28 billion, marking its largest-ever deal. The acquisition aims to strengthen Cisco's software business and take advantage of the growing demand for artificial intelligence. The deal will help reduce Cisco's reliance on its networking equipment business, which has faced challenges in recent years. Splunk is known for its expertise in data observability and offers a subscription-based pricing model. The acquisition is expected to accelerate revenue growth and gross margin expansion for Cisco. While there may be some regulatory scrutiny, Cisco is confident that the deal will not face major antitrust challenges. The transaction is set to close by the end of the third quarter of 2024, subject to regulatory approvals.
Cisco Systems is set to acquire cybersecurity software company Splunk for $28 billion in a move seen as an aggressive strategic play in the cybersecurity market. The deal, priced at a 30% premium over Splunk's previous closing price, is seen as a warning shot to competitors in the AI-driven cybersecurity software space. Cisco shares declined while Splunk shares rose over 20% following the announcement. The acquisition is expected to accelerate revenue growth and gross margins at Cisco, with Splunk's President and CEO joining Cisco's executive team. Analysts believe this "monster deal" could trigger a wave of software M&A.
Cisco has agreed to acquire analytics and AI-powered cybersecurity firm Splunk for $28 billion in an all-cash deal. The acquisition will enable Cisco to develop the next generation of AI-enabled security and observability. Shares of Cisco fell 4% in premarket trading, while Splunk rallied 20%. The deal comes during a quiet period for M&A, highlighting the impact of the AI revolution on the tech industry.
Splunk's strong second-quarter earnings and guidance are being overshadowed by Nvidia's impressive results, but analysts believe that Splunk's stock is about to rally.
Splunk's strong second-quarter earnings and guidance are being overshadowed by Nvidia's impressive results, but analysts believe that Splunk's stock is about to rally.
AI software is expected to generate up to $90 trillion in enterprise value by 2030, making it a hot topic for investors. Three AI stocks to consider buying now are MongoDB, Splunk, and Pinterest. MongoDB's cloud-native database and scalable design make it a strong contender, while Splunk's machine learning models and focus on cybersecurity offer growth potential. Pinterest's use of AI algorithms for visual search and personalized recommendations, as well as its partnerships with Amazon, could lead to increased engagement and monetization per user.
