Space News from SpaceDaily.com
Cisco buys cybersecurity group Splunk for $28 bn
ADVERTISEMENT

New York, Sept 21 (AFP) Sep 21, 2023
Computer networking giant Cisco has agreed to buy cybersecurity company Splunk in a $28 billion deal, its biggest ever acquisition, the companies said on Thursday.

Cybersecurity has grown into a huge business for tech companies and the deal puts Cisco, known mostly for routers and network equipment, on par with rivals Palo Alto Networks, Check Point, CrowdStrike and Microsoft, analysts said.

Based in San Francisco, Splunk is a software platform that uses artificial intelligence to help users dig through data in real time to identify malware and cyber threats.

"Our combined capabilities will drive the next generation of AI-enabled security and observability," said Cisco CEO Chuck Robbins.

Under the terms of the deal, Cisco will pay a big premium of $157 per share, up from the roughly $120 Splunk traded at before the announcement and far above the 52-week low of $65.

According to its website, Splunk was founded in 2003 and holds over 1,100 patents. The Nasdaq-listed company employs over 7,500 people worldwide.

The acquisition "aligns with Cisco's M&A strategy to bolster their cybersecurity offering," analyst Joseph Brunetto at Third Bridge said in an email.

"Outside of Splunk, Cisco has acquired four companies this year alone... all increasing Cisco's footprint in threat detection, identity management and cloud security," Brunetto added.

The companies expect the deal to close in less than 12 months, after the required regulatory approval from antitrust authorities.


ADVERTISEMENT




Space News from SpaceDaily.com
Sierra Space's Shooting Star Module Begins Rigorous Testing at NASA Facility
Interstellar Mapping and Acceleration probe passes key milestone
OTV-7 Mission: X-37B to Embark on Pioneering SpaceX Falcon Heavy Flight

24/7 Energy News Coverage
Japanese experimental nuclear fusion reactor inaugurated
Nuclear power has role to play, atomic energy head tells AFP at COP28
The chip that makes calculations with light

Military Space News, Nuclear Weapons, Missile Defense
N. Korea spy satellite operator to report findings to military: KCNA
South Korea confirms first spy satellite in orbit
Israeli strikes kill Iran Guards, Tehran-backed fighters in Syria: monitor

24/7 News Coverage
Sea fireflies synchronize their sparkle to seek soulmates
Study suggests micrometeorites as key nitrogen source for primordial Earth
US announces tough new methane rules on oil and gas industry


All rights reserved. Copyright Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.