Welcome to our dedicated page for Splunk news (Ticker: SPLK), a resource for investors and traders seeking the latest updates and insights on Splunk stock.
Splunk Inc. (NASDAQ: SPLK) is a pioneer in the field of making machine data accessible, usable, and valuable to everyone. Founded with the mission to address the complex challenges of managing massive streams of machine-generated big data, Splunk has become the leading software platform for machine data. The company enables customers to gain real-time operational intelligence, making it an invaluable tool for application management, IT operations, security, web intelligence, customer and business analytics, and more.
Splunk’s platform processes data generated by IT infrastructures, applications, mobile devices, website clickstreams, social data, sensors, and more, allowing organizations to harness the power of their machine data in ways previously unimagined. With more than three-quarters of the Fortune 100 and thousands of enterprises, universities, government agencies, and service providers as customers, Splunk’s influence in the tech industry is profound.
Recently, Splunk made headlines with a groundbreaking announcement. On September 21, 2023, Cisco (NASDAQ: CSCO) and Splunk announced a definitive agreement whereby Cisco intends to acquire Splunk for $157 per share in cash, equating to approximately $28 billion in equity value. This acquisition aims to leverage the complementary capabilities of both companies in AI, security, and observability to create a more secure and resilient digital world.
The acquisition will build on Splunk’s heritage of enhancing digital resilience and will accelerate Cisco’s strategy to securely connect everything to make anything possible. The combined capabilities will drive the next generation of AI-enabled security and observability, addressing the complex challenges of expanding threat surfaces and multiple cloud environments.
Upon the completion of the acquisition, Splunk President and CEO Gary Steele will join Cisco's Executive Leadership Team, reporting to Cisco Chair and CEO Chuck Robbins. This union is expected to foster greater investments in new solutions, accelerated innovation, and increased global scale to support the needs of customers of all sizes.
Financially, 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. It will also accelerate Cisco's revenue growth and gross margin expansion.
Splunk's integration into Cisco’s broad portfolio will provide enhanced security analytics and coverage from devices to applications to clouds. Together, they aim to unlock the true value of data and help make organizations more secure and digitally resilient. This merger represents the next phase of growth for Splunk, reinforcing its mission to help organizations worldwide become more resilient while delivering compelling value to shareholders.
For those seeking the latest updates and relevant information about Splunk Inc., the company's recent achievements and strategic moves, such as the Cisco acquisition, underscore its pivotal role in the tech industry and its continued impact on global digital resilience.
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