{"id":64338,"date":"2023-09-22T19:03:02","date_gmt":"2023-09-22T23:03:02","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/cisco-to-buy-splunk-in-deal-valued-at-28-billion\/"},"modified":"2023-09-22T19:03:06","modified_gmt":"2023-09-22T23:03:06","slug":"cisco-to-buy-splunk-in-deal-valued-at-28-billion","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=64338","title":{"rendered":"Cisco to Buy Splunk in Deal Valued at $28 Billion"},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n
<\/div>\n<\/figure><\/div>\n

The networking equipment company
\n Cisco Systems
\n said it would acquire
\n Splunk
\n for $157 a share in cash in a deal with an enterprise value of about $28 billion.<\/p>\n

\u201cWe\u2019re excited to bring
\n Cisco
\n and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability,\u201d said Cisco CEO Chuck Robbins in a news release. \u201cFrom threat detection and response to threat prediction and prevention, we will help make organizations of all sizes more secure and resilient.\u201d<\/p>\n

\n

Cisco (ticker: CSCO) shares were down 3.3% to $53.67 in morning trading, while Splunk (SPLK), a cybersecurity and data analytics software firm, surged 21% to $144.91. It closed Wednesday at $119.59. <\/p>\n

Trading in Splunk\u2019s peers was mixed.
\n Okta
\n (OKTA) gained 0.4%,
\n Zscaler
\n (ZS) and
\n Palo Alto Networks
\n (PANW) both fell 1.7%,
\n MongoDB
\n (MDB) was down 2.1%, and
\n CrowdStrike
\n Holdings (CRWD) gained 2.4%. <\/p>\n

Cisco said the acquisition is expected to be cash-flow positive and to boost gross margins in the first fiscal year after it closes. It should add to adjusted earnings in the second year. The transaction is also expected to boost Cisco\u2019s revenue growth and help to expand its gross margins.<\/p>\n

The acquisition was unanimously approved by the boards of both companies and is expected to close by the end of the third quarter of 2024. It won\u2019t affect Cisco\u2019s previously announced share buyback program or dividend plans, the company said.<\/p>\n

\u201cCisco acquiring Splunk. This is an easy one,\u201d wrote Patrick Moorhead, founder of Moor Insights & Strategy on X, formerly known as Twitter. \u201cWill create an observability capability and an even bigger security giant.\u201d <\/p>\n

Wedbush analysts also were upbeat about the deal. <\/p>\n

\u201cFor Cisco this is a shot across the bow at Palo Alto, Checkpoint, Crowdstrike,
\n Microsoft,<\/span><\/p>\n

Zscaler
\n and others that the tech stalwart is not sitting idle in this market and now is making an aggressive play to gain market share in the coming years,\u201d the analysts wrote. <\/p>\n

They predicted more mergers and acquisitions in the tech and software arena.<\/p>\n

\u201cFor Robbins and Cisco there is a window of opportunity to make sure that Microsoft, Google,
\n Oracle,<\/span><\/p>\n

Amazon,<\/span><\/p>\n

Adobe,<\/span><\/p>\n

IBM
\n and others do not own the next wave of AI driven software\/cyber security and\u00a0this was a well-designed strategic poker move that caught the Street off guard to get a great unique software asset at a fair multiple,\u201d they said.<\/p>\n

Write to Emily Dattilo at emily.dattilo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The networking equipment company Cisco Systems said it would acquire Splunk for $157 a share in cash in a deal with an enterprise value of about $28 billion. \u201cWe\u2019re excited to bring Cisco and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability,\u201d said Cisco CEO Chuck Robbins in […]<\/p>\n","protected":false},"author":1,"featured_media":55485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-64338","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nCisco to Buy Splunk in Deal Valued at $28 Billion | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The networking equipment company Cisco Systems said it would acquire Splunk for $157 a share in cash in a deal with an enterprise value of about $28\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=64338\" 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