secwatch.observer — SEC 8-K summary
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Issuer:     CISCO SYSTEMS, INC. (CSCO)
CIK:        0000858877
Form:       8-K
Filed at:   2023-09-21T23:59:59+00:00
Accession:  0001193125-23-239165
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cisco to acquire Splunk for $157 per share cash (~$28B equity value)
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/858877/000119312523239165/0001193125-23-239165-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/858877/000119312523239165/d464532d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-239165

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer