Cisco (NASDAQ: CSCO) on Monday completed its $28 billion acquisition of Splunk.
The networking giant paid $157 per share in cash for Splunk, a powerhouse in data analysis, security and observability tools, in a deal first announced in September 2023.
Cisco plans to leverage Splunk’s AI, security and observability capabilities complement Cisco’s solution portfolio.
Cisco says the transaction is expected to be cash flow positive and non-GAAP gross margin accretive in Cisco’s fiscal year 2025, and non-GAAP EPS accretive in fiscal year 2026.
“We are thrilled to officially welcome Splunk to Cisco,” Chuck Robbins, Chair and CEO of Cisco, said in a statement. “As one of the world’s largest software companies, we will revolutionize the way our customers leverage data to connect and protect every aspect of their organization as we help power and protect the AI revolution.”
Splunk’s President and CEO Gary Steele now join Cisco’s executive team as Executive Vice President, General Manager, Splunk, and reports to Robbins.
Splunk’s common stock ceased trading on NASDAQ prior to the opening of trading today.
