Cisco Systems, Inc.
Cisco Completes Acquisition of Splunk
Summary
On March 18, 2024, Cisco Systems, Inc. completed the acquisition of Splunk Inc. for $157 per share in cash, totaling approximately $28 billion in equity value. This strategic move positions Cisco to enhance its AI capabilities and provide comprehensive visibility and insights across its customers' digital landscapes. The transaction is expected to be cash flow positive and non-GAAP gross margin accretive in fiscal year 2025, with non-GAAP EPS accretion expected in fiscal year 2026. Cisco also issued a press release announcing the completion of the acquisition, which is furnished as Exhibit 99.1.
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Exhibits (1)
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About Cisco Systems, Inc.
Cisco Systems, Inc. is a global leader in networking and IT. The company's core business is to design and sell a range of technologies that power the internet. Cisco is renowned for its routers, switches, cybersecurity solutions, and wireless systems, which serve as the backbone for digital communication networks worldwide. The company's products and solutions are crucial for the seamless operation of data centers, enterprise networks, and telecommunication infrastructures. Cisco Systems, Inc. plays a pivotal role in connecting businesses, governments, and individuals across multiple sectors, fostering the growth of cloud computing, IoT (Internet of Things), and remote work capabilities. With a focus on innovation and sustainability, Cisco continuously develops new technologies to enhance network performance and security. Based in San Jose, California, and founded in 1984, Cisco is a respected pioneer in its field, significantly contributing to the digital transformation initiatives of organizations globally. Its expansive reach and comprehensive portfolio make it a fundamental entity in shaping how we connect and communicate.
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