<p><strong><span class="legendSpanClass"><span class="xn-location">SAN JOSE </span></span></strong>&#8212; Cisco is buying San Francisco-based cybersecurity company Splunk for <span class="xn-money">$157</span> per share in cash, or about $28 billion. Upon close of the deal, Splunk President and CEO <span class="xn-person">Gary Steele</span> will join Cisco&#8217;s Executive Leadership Team reporting to Chair and CEO <span class="xn-person">Chuck Robbins</span>.</p>
<p>Shares in Splunk closed Wednesday at $119.59 and were up 25% on Thursday trading.</p>
<p>The acquisition builds on Splunk&#8217;s heritage of helping organizations enhance their digital resilience and will accelerate Cisco&#8217;s strategy to securely connect everything to make anything possible. The combination of these two established leaders in AI, security and observability will help make organizations more secure and resilient.</p>
<p>&#8220;We&#8217;re excited to bring Cisco and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability,&#8221; said <span class="xn-person">Chuck Robbins</span>, chair and CEO of Cisco. &#8220;From threat detection and response to threat prediction and prevention, we will help make organizations of all sizes more secure and resilient.&#8221;</p>
<p>&#8220;Uniting with Cisco represents the next phase of Splunk&#8217;s growth journey, accelerating our mission to help organizations worldwide become more resilient, while delivering immediate and compelling value to our shareholders,&#8221; said <span class="xn-person">Gary Steele</span>, president and CEO of Splunk.</p>
<p>&#8220;Together, we will form a global security and observability leader that harnesses the power of data and AI to deliver excellent customer outcomes and transform the industry. We&#8217;re thrilled to join forces with a long-time and trusted partner that shares our passion for innovation and world-class customer experience, and we expect our community of Splunk employees will benefit from even greater opportunities as we bring together two respected and purpose-driven organizations,&#8221; Steele added.</p>
<p>Splunk&#8217;s security capabilities complement Cisco&#8217;s existing portfolio, and together, will provide leading security analytics and coverage from devices to applications to clouds.</p>
<p>The deal is expected to close by the third quarter of 2024.</p>

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