Cisco Gains EU Antitrust Approval for $28 Billion Splunk Acquisition

Cisco Systems CSCO.O won unconditional EU antitrust approval for its $28 billion bid for cybersecurity firm Splunk SPLK.O on Wednesday after EU regulators said they did not see any competition issues.

The deal announced last year is Cisco’s biggest-ever and aims to boost its software business amid a boom in artificial intelligence while also helping to offset a post-pandemic slowdown in demand.

“The Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on competition in the markets where the companies are active, as there is a sufficient number of alternative players,” the European Commission said in a statement.

Read the source article at Nasdaq