Cisco Completes $28B Splunk Acquisition
Ticker: CSCO · Form: 8-K · Filed: 2024-03-18T00:00:00.000Z
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.
From the Filing
0001193125-24-070175.txt : 20240318 0001193125-24-070175.hdr.sgml : 20240318 20240318162230 ACCESSION NUMBER: 0001193125-24-070175 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240318 ITEM INFORMATION: Completion of Acquisition or Disposition of Assets ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240318 DATE AS OF CHANGE: 20240318 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CISCO SYSTEMS, INC. CENTRAL INDEX KEY: 0000858877 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] ORGANIZATION NAME: 06 Technology IRS NUMBER: 770059951 STATE OF INCORPORATION: DE FISCAL YEAR END: 0727 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39940 FILM NUMBER: 24759343 BUSINESS ADDRESS: STREET 1: 170 WEST TASMAN DR CITY: SAN JOSE STATE: CA ZIP: 95134-1706 BUSINESS PHONE: 4085264000 MAIL ADDRESS: STREET 1: 170 WEST TASMAN DR CITY: SAN JOSE STATE: CA ZIP: 95134-1706 FORMER COMPANY: FORMER CONFORMED NAME: CISCO SYSTEMS INC DATE OF NAME CHANGE: 19920703 8-K 1 d783088d8k.htm 8-K 8-K false 0000858877 0000858877 2024-03-18 2024-03-18     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 18, 2024     CISCO SYSTEMS, INC. (Exact name of registrant as specified in its charter)       Delaware   001-39940   77-0059951 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   170 West Tasman Drive , San Jose , California   95134-1706 (Address of principal executive offices)   (Zip Code) (408) 526-4000 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report.)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:     ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)     ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)     ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))     ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, par value $0.001 per share   CSCO   The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 2.01 Completion of Acquisition or Disposition of Assets. On March 18, 2024, Cisco Systems, Inc., a Delaware corporation (the “ Company ”), completed the previously announced transaction with Splunk Inc., a Delaware corporation (“ Splunk ”), and Spirit Merger Corp., a Delaware corporation and wholly owned subsidiary of the Company (“ Merger Sub ”), pursuant to the Agreement and Plan of Merger, dated as of September 20, 2023 (as am