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) has appointed Sharyl Givens as Chief People Officer, effective immediately. Givens comes with over 20 years of HR experience, including 11 years at Proofpoint, where she led various people-centric initiatives. Her focus will be on enhancing Splunk's talent acquisition and development, emphasizing diversity, equity, and inclusion. CEO Gary Steele expressed confidence in her ability to drive an inclusive culture, which he believes is crucial for the company's future success.
Splunk Inc. (NASDAQ: SPLK) has been recognized as a Leader in the 2022 Gartner Magic Quadrant for Security Information and Event Management (SIEM) for the ninth consecutive year. The company also ranked first in Gartner's Market Share: All Software Markets, Worldwide 2021 report for the SIEM market. Splunk attributes this recognition to its innovative security solutions, including Splunk Enterprise Security and Splunk SOAR Cloud, which enhance threat detection and incident response. The firm is committed to delivering advanced security analytics that mitigate risks and protect businesses.
Splunk Inc. (NASDAQ: SPLK) announced the appointments of Richard P. Wallace and David Tunnell to its Board of Directors, effective immediately. Wallace, a technology executive with over 30 years of experience, and Tunnell, who has 25 years of financial expertise, aim to enhance Splunk's growth strategy. This change follows the departure of directors Stephen G. Newberry and Sara Baack. The board now consists of 11 directors, with a significant focus on independent members. This restructuring reflects Splunk’s commitment to adapting to the evolving tech landscape.
Splunk Inc. (NASDAQ: SPLK) has filed a lawsuit against Cribl in the District of Delaware, alleging patent and copyright infringement, along with unfair competition. The complaint claims that Cribl unlawfully used Splunk source code and misappropriated confidential information. Splunk accuses Cribl's CEO, Clint Sharp, of founding Cribl using Splunk's code without permission. Despite this legal action, Splunk intends to maintain its customer and partner relationships, asserting confidence that the court will uphold its intellectual property rights.
Splunk Inc. presents the Economic Impact of Data Innovation 2023 report, revealing that companies excelling in data practices see an average 9.5% increase in gross profits. Data leaders are 2.9 times more likely to outperform competitors and twice as likely to meet financial expectations. The study involved 2,000 IT and business leaders across nine countries, highlighting a strong correlation between data innovation and market competitiveness. The report underscores the necessity of a robust data foundation for organizational resilience and decision-making.
Splunk Inc. (NASDAQ: SPLK) announced that Jason Child, CFO since 2019, is stepping down to take a position at a pre-IPO semiconductor company. He will stay until early November. Splunk is conducting a search for a new CFO while establishing an Office of the CFO to maintain financial oversight during the transition. The company reaffirmed its financial outlook for Q3 and FY 2023, projecting revenues of
Splunk Inc. (NASDAQ: SPLK) has appointed Tom Casey as Senior Vice President and General Manager of its Platform, effective September 20, 2022. Casey brings over 25 years of experience in technology, having previously served as Senior Vice President, Engineering at DocuSign and holding leadership roles at Apptio and Microsoft. He will oversee the platform strategy and development at Splunk, focusing on expanding their cloud and enterprise software capabilities. The appointment aims to enhance Splunk's ecosystem and meet customer needs across various environments.
Splunk Inc. (NASDAQ: SPLK) has appointed Jason Lee as Chief Information Security Officer (CISO). Lee will oversee Splunk’s global security measures to protect employees and customers, focusing on cloud security, threat management, and risk. With over 20 years in technology, including leadership roles at Zoom and Salesforce, Lee is expected to enhance Splunk’s proactive cybersecurity strategy. CEO Gary Steele expressed confidence in Lee's ability to safeguard customer data and lead the security organization effectively.
Splunk Inc. (NASDAQ: SPLK), a leader in data platforms for security and observability, will participate in the Goldman Sachs Communacopia + Technology Conference in San Francisco, CA. The discussion will be led by President and CEO Gary Steele, along with CFO Jason Child, starting at 7:30 a.m. PT on Tuesday, September 13, 2022. A live webcast of the session can be accessed via the Splunk Investor Relations website. Splunk's technology empowers organizations to effectively investigate, monitor, analyze, and act on data.
Splunk Inc. (NASDAQ: SPLK) reported strong fiscal Q2 2023 results with total revenues of $799 million, marking a 32% increase year-over-year, and cloud revenue rising 59% to $346 million. The company achieved a Cloud Dollar-Based Net Retention Rate of 129% and increased its customer base with annual recurring revenue (ARR) exceeding $1 million by 24%. Splunk also raised its revenue outlook for the year, projecting total revenues between $3.35 billion and $3.4 billion. Non-GAAP operating margin guidance improved significantly, indicating a balanced approach to growth and profitability.
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