M&A
confidence high
sentiment neutral
materiality 0.85
Cisco to acquire Splunk for $157 per share cash (~$28B equity value)
CISCO SYSTEMS, INC.
- Transaction valued at $28B; Splunk shareholders receive $157/share in cash.
- Expected to close by end of Q3 calendar 2024, subject to regulatory and Splunk shareholder approval.
- Splunk CEO Gary Steele to join Cisco's executive leadership team, reporting to Chuck Robbins.
- Cisco expects deal to be cash flow positive and gross margin accretive in first fiscal year post close; non-GAAP EPS accretive in year 2.
- Hellman & Friedman (7.6% of Splunk shares) agreed to vote in favor via Voting and Support Agreement.