$217 Billion Cisco to Buy Cybersecurity Group Splunk for $28 Billion in All-Cash Deal, Splunk Founded in 2003 by Michael Baum, Rob Das & Erik Swan
23rd September 2023 | Hong Kong
Cisco ($217 billion market capitalization) has announced to buy cybersecurity group Splunk for $28 billion in an all-cash deal, founded in 2003 by Michael Baum, Rob Das & Erik Swan. Cisco: “The acquisition builds on Splunk’s heritage of helping organizations enhance their digital resilience and will accelerate Cisco’s strategy to securely connect everything to make anything possible. The combination of these two established leaders in AI, security and observability will help make organizations more secure and resilient.” Transaction: “Under the terms of the agreement, Cisco intends to acquire Splunk for $157 per share in cash, representing approximately $28 billion in equity value. The transaction is expected to be cash flow positive and gross margin accretive in the first fiscal year post close, and non-GAAP EPS accretive in year two. Additionally, it will accelerate Cisco’s revenue growth and gross margin expansion. The transaction will not impact Cisco’s previously announced share buyback program or dividend program. The acquisition has been unanimously approved by the boards of directors of both Cisco and Splunk. It is expected to close by the end of the third quarter of calendar year 2024, subject to regulatory approval and other customary closing conditions including approval by Splunk shareholders. Tidal Partners LLC is acting as financial advisor to Cisco, Simpson Thacher & Bartlett LLP is acting as legal counsel, and Cravath, Swaine & Moore LLP is acting as regulatory counsel. Qatalyst Partners and Morgan Stanley & Co. LLC are acting as financial advisors to Splunk and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel.”
“ $217 Billion Cisco to Buy Cybersecurity Group Splunk for $28 Billion in All-Cash Deal, Splunk Founded in 2003 by Michael Baum, Rob Das & Erik Swan “
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