Cisco Buys Splunk, Adds Security and Resiliency in AI Environment

Cisco announced a definitive agreement to acquire Splunk for $157 per share in cash ($28B in equity value). Cisco’s goal in purchasing Splunk is to move from threat detection and response to threat prediction and prevention. Splunk brings its ability to help organizations enhance their digital resilience. Combining the two leaders in AI, security, and observability will help make organizations more secure and resilient.

Given the rapid acceleration and adoption of generative AI, expanding threat surfaces, and multiple cloud environments, complexity is beyond what organizations have faced in the past. The combination of Cisco and Splunk will provide leading security analytics and coverage from devices to applications to clouds.

The purchase is expected to be positive cash flow, gross margin accretive in the first fiscal year post close, and non-GAAP EPS accretive in year two. It will not impact Cisco’s previously announced share buyback or dividend program.

Unanimously approved by the boards of directors of both Cisco and Splunk, the deal is expected to close by the end of the third quarter of calendar 2024, subject to regulatory approval and other customary closing conditions, including approval by Splunk shareholders.

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