The acquisition, approved by the boards of both companies, is anticipated to finalize by the end of the third quarter of 2024, pending regulatory and shareholder approval.
Splunk’s security framework, combined with Cisco’s existing solutions, will offer enhanced security analytics across various platforms. The partnership aims to improve observability in hybrid and multi-cloud environments, promoting seamless application experiences.
The acquisition aligns with Cisco’s strategy to enhance connectivity and security. Merging the two entities will further consolidate AI, security, and observability initiatives, aiming to bolster organizational security and resilience, the companies said in a statement. The collaboration intends to address the increasing complexity businesses face in a data-driven, hyperconnected environment.
On the advisory front, Tidal Partners is acting as financial advisor to Cisco, Simpson Thacher & Bartlett is acting as legal counsel, and Cravath, Swaine & Moore is acting as regulatory counsel. Qatalyst Partners and Morgan Stanley are acting as financial advisors to Splunk and Skadden, Arps, Slate, Meagher & Flom is acting as legal counsel.