Networking giant Cisco acquired digital infrastructure company Splunk and says the merger will allow them to “supercharge” and revolutionize the way it wields artificial intelligence for its customers.
Cisco announced plans to acquire software company Splunk in September 2023 and announced the completion of the deal on Monday in a press release
The acquisition of Splunk now makes Cisco one of the largest software companies in the world, Cisco said in the release.
“We will revolutionize the way our customers leverage data to connect and protect every aspect of their organization as we help power and protect the AI revolution,” Cisco CEO Chuck Robbins said in a statement.
The company also made the announcement in a post on X, formerly known as Twitter.
“Cisco, now supercharged by @Splunk, will revolutionize the way customers use data to power and protect the AI revolution,” states the post.
The combined companies “will provide truly comprehensive visibility and insights across an organization’s entire digital footprint,” said Gary Steele, the executive vice president and general manager of Splunk, in a statement.
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Cisco acquires Splunk: transaction details
Cisco acquired Splunk for roughly $28 billion, or about $157 per share in cash, the companies said. Combined, Cisco and Splunk “can create new profitable revenue streams,” they said.
With Splunk, Cisco looks to revolutionize AI
Cisco…
