• | 2:30 pm

Cisco buys cybersecurity firm Splunk for $28 billion

Cisco said the acquisition will help provide better security, networking, and AI at reduced cost to clients

Cisco buys cybersecurity firm Splunk for $28 billion
[Source photo: Chetan Jha/Press Insider]

US networking giant Cisco has completed its $28 billion acquisition of cybersecurity provider Splunk, the company said. 

Cisco acquired Splunk for $157 per share in cash, representing approximately $28 billion in equity value. 

The company said it will bring the full power of the network, together with market-leading security and observability solutions, to deliver a real-time unified view of the entire digital landscape, helping teams proactively defend critical infrastructure, prevent outages, and refine the network experience.

“We are thrilled to officially welcome Splunk to Cisco,” said Chuck Robbins, chair and chief executive officer of Cisco. “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.”

Cisco said the addition of Splunk will enable meaningful benefits of AI through the effective use of the right data at massive scale. 

With the Splunk acquisition, Cisco will have the infrastructure to power AI, the data to develop it, a security platform to protect it, and an observability platform to monitor and manage it in real time.

“Uniting Splunk and Cisco will bring tremendous value to our joint customers worldwide,” said Gary Steele, executive vice president, General Manager, Splunk. “The combination of Cisco and Splunk will provide truly comprehensive visibility and insights across an organization’s entire digital footprint, delivering an unprecedented level of resilience through the most extensive and powerful security and observability product portfolio on the market.”

The company said the combination of Cisco and Splunk will provide customers with better security, better observability, better networking, and better AI at a reduced cost. 

Cisco is the technology leader on networking, and provides both communication hardware and software. Splunk is a cybersecurity firm providing data security and privacy.

More Top Stories: