Cisco Is Acquiring Cybersecurity Software Company Splunk in Deal Worth $28 Billion

Cisco is acquiring cybersecurity software company Splunk for $157 a share in a cash deal worth about $28 billion, the company said Thursday.

The acquisition is one of Cisco’s largest, and continues an acquisition streak which has built out the company’s cybersecurity offerings.

Splunk shares rose 20% in premarket trading, while Cisco shares slipped 5%.

“From threat detection and response to threat prediction and prevention, we will help make organizations of all sizes more secure and resilient,” Cisco chair and CEO Chuck Robbins said in a statement. The deal is expected to close in the third quarter of 2024.

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