Cisco Systems to Buy Splunk in $28 Billion Deal
21 September 2023 - 10:23PM
Dow Jones News
By Colin Kellaher
Networking equipment giant Cisco Systems has struck a $28
billion deal to buy analytics and security software company
Splunk.
Cisco on Thursday said it would pay $157 a share in cash for
Splunk, a 31% premium to Wednesday's closing price of $119.59 for
the San Francisco company.
San Jose-based Cisco said it expects to complete the
transaction, which won't impact its stock-buyback program or its
dividend, by the end of the third quarter of calendar 2024.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 21, 2023 08:08 ET (12:08 GMT)
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