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 Inc. (NASDAQ: SPLK), a leader in cybersecurity and observability, has been recognized as a Leader in Security Information and Event Management (SIEM) by multiple analysts. Forrester named Splunk a Leader in its Q4 2022 report for Security Analytics Platforms, highlighting its strong product vision and integrations. Gartner recognized Splunk as a Leader for the ninth consecutive time in its 2022 Magic Quadrant for SIEM, citing its execution ability and completeness of vision. Additionally, Splunk was acknowledged as a Leader in the IDC MarketScape for SIEM, noted for its extensive third-party tool connections and cloud compatibility.
Splunk Inc. (NASDAQ: SPLK) has appointed Yamini Rangan to its Board of Directors. Rangan, currently the President and CEO of HubSpot, brings over 25 years of experience in product marketing and sales, with previous roles at Dropbox, Workday, and SAP. Graham Smith, Chair of the Board, expressed excitement about Rangan's addition, emphasizing her focus on customer-centric strategies and growth. Rangan aims to enhance innovation, capture market share, and drive shareholder returns at Splunk, especially in the realms of cybersecurity and observability. This leadership change aligns with Splunk's long-term strategic objectives, focusing on sustaining shareholder value.
Splunk Inc. (NASDAQ: SPLK) has appointed Min Wang as Chief Technology Officer (CTO) to lead innovation in cybersecurity and observability. With over 20 years of experience, including a significant tenure at Google, Wang aims to enhance Splunk’s AI capabilities and improve product development. She will work closely with various teams to advance the company’s vision for digital resilience.
Wang's past roles include Senior Vice President at Visa Research and positions at HP and IBM. Her expertise in AI and data analytics is expected to drive value for Splunk’s customers, helping them navigate digital transformations.
Tom Casey, SVP of Products and Technology, expressed confidence that Wang's leadership will strengthen Splunk’s position in the market as it seeks to provide advanced security solutions.
Splunk Inc. (NASDAQ: SPLK) has appointed Toni Pavlovich as the new Chief Customer Officer (CCO), effective immediately. Reporting to President and CEO Gary Steele, Pavlovich will enhance customer experience and advocate for a customer-centric culture within the company. With over 30 years of experience, she has been with Splunk since 2017, most recently leading the Global Professional Services team. Her appointment comes as the company aims to deepen customer engagement and accelerate customer time-to-value. Prior to Splunk, Pavlovich held significant roles at Veritas Technologies and Symantec, where she was recognized for her service excellence. This strategic leadership change aligns with Splunk's mission to deliver unmatched customer value and operational resilience.
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