Cisco earlier announced that it would acquire Splunk, a San Francisco-based provider of security and visibility data services, with the transaction expected to be completed for approximately $280 billion.
The transaction will be acquired for $157 per share. If the acquisition is successful, Splunk President and CEO Gary Steele will join Cisco's leadership team and report to Cisco Chairman and CEO Chuck Robbins.
After the merger is completed, Cisco is expected to become one of the world's largest software companies and will accelerate the transformation of Cisco's existing business development, thereby increasing more revenue opportunities.
Cisco believes that this transaction will help enhance the security and digital resilience of enterprise organizations, and through the integration of Cisco's business and Splunk's business content, provide more comprehensive visibility data in hybrid and multi-cloud environments. This will not only make it easier for enterprises to grasp the business opportunities behind the data, but also help the digital development of enterprises and promote the development of massive artificial intelligence technology through data content.
