Cisco Completes $28B Splunk Acquisition
Ticker: CSCO · Form: 8-K · Filed: Mar 18, 2024 · CIK: 858877
| Field | Detail |
|---|---|
| Company | Cisco Systems, INC. (CSCO) |
| Form Type | 8-K |
| Filed Date | Mar 18, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $157.00, $28 billion |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, technology, security
Related Tickers: SPLK
TL;DR
Cisco just bought Splunk for $28B, beefing up its security game.
AI Summary
On March 18, 2024, Cisco Systems, Inc. announced the completion of its acquisition of Splunk Inc. for $157.00 per share in cash, representing a total equity value of approximately $28 billion. This strategic move aims to enhance Cisco's security and observability capabilities.
Why It Matters
This acquisition significantly expands Cisco's security portfolio, integrating Splunk's data platform to offer enhanced threat detection and response capabilities for customers.
Risk Assessment
Risk Level: medium — The integration of a large company like Splunk presents significant execution risks, including potential disruption to operations and challenges in realizing projected synergies.
Key Numbers
- $28 billion — Acquisition Value (Total cost of acquiring Splunk Inc.)
- $157.00 — Per Share Price (Cash amount paid per share of Splunk)
Key Players & Entities
- Cisco Systems, Inc. (company) — Acquiring company
- Splunk Inc. (company) — Acquired company
- $157.00 (dollar_amount) — Per share acquisition price
- $28 billion (dollar_amount) — Total equity value of the acquisition
- March 18, 2024 (date) — Date of acquisition completion
FAQ
What is the primary strategic benefit Cisco expects from acquiring Splunk?
Cisco expects to enhance its security and observability capabilities by integrating Splunk's data platform.
What was the total equity value of the Splunk acquisition?
The total equity value of the acquisition was approximately $28 billion.
On what date was the acquisition of Splunk completed?
The acquisition was completed on March 18, 2024.
What was the price per share paid by Cisco for Splunk?
Cisco paid $157.00 per share in cash for Splunk.
What is Cisco's primary business sector?
Cisco Systems, Inc. is in the Computer Communications Equipment sector.
Filing Stats: 1,101 words · 4 min read · ~4 pages · Grade level 11.6 · Accepted 2024-03-18 16:22:30
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share CSCO The Nasdaq Stock Mar
- $157.00 — lly converted into the right to receive $157.00 in cash, subject to applicable withhold
- $28 billion — quired by the Company was approximately $28 billion. In addition, at the Effective Time,
Filing Documents
- d783088d8k.htm (8-K) — 30KB
- d783088dex991.htm (EX-99.1) — 23KB
- 0001193125-24-070175.txt ( ) — 178KB
- csco-20240318.xsd (EX-101.SCH) — 3KB
- csco-20240318_lab.xml (EX-101.LAB) — 17KB
- csco-20240318_pre.xml (EX-101.PRE) — 11KB
- d783088d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 2.1 Agreement and Plan of Merger, dated as of September 20, 2023, by and among Cisco Systems, Inc., Spirit Merger Corp. and Splunk Inc. (incorporated by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K filed by the Company on September 21, 2023). 99.1 Press Release, dated as of March 18, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CISCO SYSTEMS, INC. Date: March 18, 2024 By: /s/ Evan Sloves Name: Evan Sloves Title: Secretary