Cisco to Pay $28 Billion for Splunk Acquisition, Set to be Finalized within Six Months

After completing its acquisition deal with log analysis company Splunk, Cisco is set to pay $28 billion for the acquisition, which equates to around 25.8 billion euros. In a recent press release, Cisco announced that the acquisition deal is expected to be finalized within six months of the announcement, pending approval from competition authorities. The European Commission has stated that the takeover will have a minimal impact on the markets in which both companies operate, as there is already sufficient competition. Therefore, there have been no objections to the deal.

Surprisingly, the acquisition was completed quicker than initially anticipated by Cisco. The company had originally aimed for completion by the third quarter of 2024. This acquisition of Splunk marks Cisco's largest acquisition deal to date, with a payment of $157 per share and a total value of $28 billion. Additionally, in February, Cisco also announced a round of redundancies affecting approximately 5 percent of its workforce.