Cisco Systems will acquire the cybersecurity and data analytics company for $157 a share in cash.
Networking equipment giant Cisco Systems said Thursday it would acquire Splunk, a cybersecurity and data analytics software company, for $157 a share in cash in a deal with an enterprise value of about $28 billion.
“We’re excited to bring Cisco and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability,” said Cisco CEO Chuck Robbins in the release. “From threat detection and response to threat prediction and prevention, we will help make organizations of all sizes more secure and resilient.”
Cisco shares were falling 4.8% to $52.84 in premarket trading. Trading in Splunk stock was halted. It closed Wednesday at $119.59.Write to Emily Dattilo at [email protected]
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