{"id":64451,"date":"2023-09-23T03:46:09","date_gmt":"2023-09-23T07:46:09","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/cisco-systems-to-acquire-splunk-for-28-billion-shares-fall\/"},"modified":"2023-09-23T03:46:12","modified_gmt":"2023-09-23T07:46:12","slug":"cisco-systems-to-acquire-splunk-for-28-billion-shares-fall","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=64451","title":{"rendered":"Cisco Systems to acquire Splunk for $28 billion; shares fall"},"content":{"rendered":"
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\u00a9 Reuters. Cisco Systems (CSCO) to acquire Splunk (SPLK) for $28 billion; Shares fall<\/span>
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Cisco Systems (NASDAQ:) and Splunk (NASDAQ:) have entered into a definitive takeover agreement, with Cisco intending to acquire Splunk for $157 per share in cash, two companies said today.<\/p>\n

The transaction is valued at approximately $28 billion.<\/p>\n

Cisco stock fell 4.8% on the announcement. Splunk shares were halted pending news.<\/p>\n

Following the completion of the acquisition, Gary Steele, President, and CEO of Splunk, will join Cisco’s Executive Leadership Team and report to Chair and CEO Chuck Robbins.<\/p>\n

“We’re excited to bring Cisco and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability,” said Chuck Robbins, chair and CEO of Cisco.<\/p>\n

“From threat detection and response to threat prediction and prevention, we will help make organizations of all sizes more secure and resilient.”<\/p>\n

The transaction is expected to close by the end of the third quarter of calendar year 2024. Cisco said that the acquisition is anticipated to have a positive impact on cash flow and gross margin in the first fiscal year after closing, with non-GAAP earnings per share (EPS) becoming accretive in the second year.<\/p>\n

Furthermore, it is expected to enhance Cisco’s revenue growth and gross margin expansion.<\/p>\n<\/div>\n

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

\u00a9 Reuters. Cisco Systems (CSCO) to acquire Splunk (SPLK) for $28 billion; Shares fall Cisco Systems (NASDAQ:) and Splunk (NASDAQ:) have entered into a definitive takeover agreement, with Cisco intending to acquire Splunk for $157 per share in cash, two companies said today. The transaction is valued at approximately $28 billion. Cisco stock fell 4.8% […]<\/p>\n","protected":false},"author":1,"featured_media":10829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-64451","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCisco Systems to acquire Splunk for $28 billion; shares fall | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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