Software company
Cisco wants to pay $28 billion for Splunk
The network specialist Cisco wants to become one of the largest software companies in the world through a takeover. photo
© Thiago Prudencio/DAX via ZUMA Press Wire/dpa
Cisco wants to become one of the largest software companies in the world. To this end, the company is taking over the data specialist Splunk.
The network specialist Cisco wants to become one of the largest through a takeover Software companies rise worldwide. Specifically, Cisco wants to acquire the data specialist Splunk for an estimated 28 billion US dollars (26.2 billion euros), as both companies announced on Thursday. A corresponding agreement has already been signed.
Cisco shares fell by around four and a half percent in premarket US trading. Splunk’s shares, however, rose by over a fifth to around $144. Cisco is offering Splunk shareholders $157 per share.
The deal should therefore be completed by the end of the third quarter of 2024. The data specialist Splunk helps companies make their digital systems more reliable and secure. With the acquisition, Cisco wants to accelerate its transition to more recurring revenue. In addition, the companies hope for synergies in the area of artificial intelligence (AI).