BEEFS UP CYBERSECURITY PLAY
CISCO SYSTEMS AGREED to buy Splunk in a deal valued at about $28 billion, representing its biggest acquisition yet and a major push into software and artificial intelligence-powered data analysis.
Cisco will pay $157 a share in cash, the companies said in a statement Thursday, or a 31% premium to Splunk's previous closing price on Wednesday. The deal value represents roughly 10% of Cisco's market value.
Shares of Cisco fell 2.8% in New York, and Splunk surged 21%. Cisco has been expanding its software and services business in an attempt to rely less on its hallmark networking hardware.
Bu hikaye Financial Express Mumbai dergisinin September 22, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin September 22, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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