Summary
Cisco Systems, Inc. (CSCO) has officially closed its previously announced acquisition of Splunk Inc. on March 18, 2024. This significant transaction involved a merger where Splunk now operates as a wholly owned subsidiary of Cisco. Under the terms of the merger, each outstanding share of Splunk common stock was acquired for $157.00 in cash. This brings the total equity value of the acquisition to approximately $28 billion. The deal, initially announced in September 2023, represents a major strategic move by Cisco to enhance its portfolio and market position.
Key Highlights
- 1Cisco Systems has successfully completed the acquisition of Splunk Inc. on March 18, 2024.
- 2The acquisition was executed through a merger, with Splunk becoming a wholly owned subsidiary of Cisco.
- 3Each share of Splunk common stock was acquired for $157.00 in cash.
- 4The aggregate equity value of the transaction is approximately $28 billion.
- 5The deal was originally announced in September 2023 and has now been finalized.
- 6Outstanding Splunk stock options and RSUs were converted into cash awards payable on the original vesting schedules.
- 7This acquisition is expected to significantly impact Cisco's market strategy and offerings.