The transaction represents approximately $28 billion in equity value and, upon close of the acquisition, Gary Steele, CEO and president of Splunk, will join Cisco’s executive leadership team reporting to Chuck Robbins, CEO of Cisco.
Chuck Robbins, CEO, Cisco (pictured), said, “We’re excited to bring Cisco and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability.
“From threat detection and response to threat prediction and prevention, we will help make organisations of all sizes more secure and resilient.”
Gary Steele, CEO, Splunk, added, “Uniting with Cisco represents the next phase of Splunk’s growth journey, accelerating our mission to help organizations worldwide become more resilient, while delivering immediate and compelling value to our shareholders.
“Together, we will form a global security and observability leader that harnesses the power of data and AI to deliver excellent customer outcomes and transform the industry.
“We’re thrilled to join forces with a long-time and trusted partner that shares our passion for innovation and world-class customer experience.”