Cisco Acquires Splunk for $28 Billion to Boost AI-Enabled Security
Cisco Systems is set to acquire cybersecurity company Splunk for approximately $28 billion in its largest deal yet. The acquisition aims to boost Cisco's move towards developing AI-enabled security and observability solutions that go beyond threat detection and response.
The deal, worth $157 per share of Splunk stock, will see the companies' combined capabilities drive the next generation of security and observability. This is in line with Cisco's strategy to adapt to industry dynamics, particularly the rise of public cloud technologies.
Splunk's technology helps businesses monitor and analyze systems for cybersecurity risks. With this acquisition, Cisco hopes to expand its business beyond traditional networking equipment manufacturing and solidify its commitment to cybersecurity and AI.