The total value of the transaction is approximately US$28 billion. For Cisco, this purchase will be the largest acquisition in the company’s history.
American multinational company Cisco is buying cybersecurity software company Splunk. CNBC reported this.
The total value of the transaction is approximately US$28 billion, or US$157 per share of the company. It is said that for Cisco this purchase will be the largest acquisition in the history of the company. The deal is expected to close in the third quarter of 2024.
Cisco CEO Chuck Robbins noted the importance of using artificial intelligence capabilities used in Splunk technologies to protect networks.
“Our combined capabilities will enable the next generation of AI-enabled security and observability,” he said.
Cisco has long been the largest maker of computer networking equipment and is strengthening its cybersecurity business to meet customer needs and drive growth.
Splunk’s technology helps companies monitor and analyze their data to reduce the risk of breaches and resolve technical issues faster.
It will be remembered that the American media company Warner Bros. Discovery (WBD) is to expand its Leavesden film studio in Watford, UK, creating an additional 4,000 jobs and bringing more than $245.9 million to the UK budget.
It has also been reported that American automaker Tesla intends to build a Powerwall energy storage facility in India as part of plans to increase its presence in the country.
Source: korrespondent
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