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.
Splunk (NASDAQ: SPLK) announced a $1 billion investment from Silver Lake in convertible senior notes to support its transformation into a cloud-first company. The funds will be used for growth initiatives and a share repurchase program worth up to $1 billion. Splunk reported a remarkable 83% year-over-year increase in Cloud annual recurring revenue (ARR) to $877 million, with 56% of bookings from the Cloud. Silver Lake's Chairman, Kenneth Hao, will join Splunk's Board, expanding it to 11 members, 10 of whom are independent. The investment terms include a conversion price of $160 per share, representing a 30% premium.
Splunk (NASDAQ: SPLK) has launched the Splunk Security Cloud, a modern security operations platform that integrates advanced analytics, automated operations, and threat intelligence. This platform enables businesses to manage security across multi-cloud environments effectively. Key features include machine learning analytics, faster response times for security alerts, and an open ecosystem for better data correlation and visibility. Additionally, Splunk has announced a partnership with AWS for a tailored security analytics solution, as well as the acquisition of TruSTAR to enhance its security offerings further.
Splunk (NASDAQ: SPLK) has released a report titled The State of Observability 2021, revealing key findings on observability's role in digital transformation. The report emphasizes that organizations prioritizing observability experience significant benefits, including 2.9 times better visibility into application performance and 4.5 times more successful digital transformation initiatives. However, gaps in observability are linked to tangible business losses, with 45% of respondents citing lower customer satisfaction and 37% facing revenue loss due to service failures. The global survey included over 525 IT leaders.
Splunk (NASDAQ: SPLK) announced its participation in the BofA Securities 2021 Global Technology Conference on June 10, 2021, at 1:00 p.m. PT. Doug Merritt, president and CEO, and Jason Child, CFO, will lead a discussion and Q&A session accessible via the Splunk Investor Relations website. Splunk provides a Data-to-Everything Platform, enabling organizations to investigate, monitor, analyze, and act on data efficiently across various scales.
Splunk reported strong fiscal Q1 2022 results with Cloud ARR reaching $877 million, a remarkable 83% year-over-year growth. Total ARR increased to $2.47 billion (up 39% YoY). Cloud revenue climbed to $194 million, up 73% compared to the previous year. Total revenues hit $502 million, reflecting a 16% YoY increase. Splunk secured 203 customers with Cloud ARR exceeding $1 million, up 99% from last year. The company anticipates fiscal Q2 2022 Cloud ARR between $950 million - $960 million and total revenues from $550 million - $570 million.
Splunk Inc. (NASDAQ: SPLK) has appointed Shawn Bice as the President of Products and Technology, effective June 1, 2021. Bice, a cloud and software veteran, will lead Splunk’s Product and Technology organization, reporting directly to CEO Doug Merritt. His responsibilities will encompass product, engineering, design, and various technical functions. Bice's expertise in cloud services and customer-centric strategies aims to enhance Splunk's technology solutions and support its growth as a leading company in data management.
Splunk Inc. (NASDAQ: SPLK) has announced a definitive agreement to acquire TruSTAR, a cloud-native security company based in San Francisco. This acquisition aims to enhance Splunk's security offerings by integrating TruSTAR's data-centric intelligence platform, allowing customers to streamline threat detection and response. TruSTAR's platform centralizes security intelligence and supports integration with third-party threat intelligence sources. This move is expected to boost operational efficiency and reduce response times for security issues.
Splunk (NASDAQ: SPLK) launched the new Splunk Observability Cloud, a full-stack, analytics-driven solution aimed at enhancing IT and DevOps functionality. This platform integrates monitoring tools, allowing seamless access to metrics, traces, and logs in real-time without sampling. Industry leaders like Lenovo have reported significant enhancements in operational efficiency, cutting mean-time-to-resolution (MTTR) from 30 minutes to under 5. The platform also offers simplified pricing based on host metrics, catering to increased data volumes and organizational complexities.
Splunk Inc. (NASDAQ: SPLK) will announce its first-quarter results for the fiscal year ending April 30, 2021, on June 2, 2021, after market close. A financial press release will accompany the results, available on the Splunk Investor Relations website. Following the release, the executive team will hold a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results and business highlights. Interested parties can join by phone or via a live audio webcast. A replay will be accessible on the website for seven days after the conference.
FAQ
What is the market cap of Splunk (SPLK)?
What is Splunk Inc.?
What is the recent major news about Splunk?
What will the acquisition by Cisco mean for Splunk?
Who will lead Splunk after the acquisition?
How will the acquisition impact Cisco's financials?
How widespread is Splunk's customer base?
What does Splunk's platform do?
Will Splunk continue to innovate after the acquisition?
What are the expected benefits of this acquisition for customers?
What is the mission of Splunk Inc.?
