Cisco acquires Splunk in a stunning multibillion-dollar deal. With this deal in place, both companies hope and wish to tackle both AI and data together.
Cisco Acquires Splunk
Tech Company Cisco has just confirmed that it will be acquiring Splunk, a California-based cybersecurity and software firm.
The deal in question for those that don’t know is very much expected to be worth around $28 billion, with Cisco in its end confirming a valuation of $157 per share, which it will reportedly purchase in cash.
The hope here is that in closing this deal, both firms will be able to piggy-back off the success of one another and then build a better resilience in going forward, each with their very own experience in AI, security, as well as observability.
Cisco Bought Splunk for $28 Billion
Chuck Robins, Cisco Chai and CEO said: “We’re excited to bring Cisco and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability.”
The companies in question have also confirmed that Gary Steele, the president and CEO of Splunk, will be joining the Executive Leadership Team of Cisco in a new role that will reportedly see him report directly to Robbins.
For other employees in the company, Cisco said: “The acquisition will unite two ‘Great Places to Work’ with a shared passion for innovation and inclusion and will remain a great place to work and the premier place for software talent.”
The Aim of the Companies Going Forward
Together, both firms have reportedly outlined a clear goal to help organizations easily and effectively handle large amounts of data, and in turn, aid mission-critical decisions. They will however get to do this with the help of emerging generative AI technologies.
The new challenges as you should know that come with GenAI, along with multi-cloud adoption as well as an increased number of attack surfaces, are key to just how the firms will get to deliver going forward.
Cisco however hopes that with the deal, which is now all but confirmed, will be complete by the end of the third quarter of the coming year, but however subject to approval as well as closing conditions. Full details of the announcement can be found in the joint press release from both companies.
Cisco HyperFlex is Discontinued
Tech Company Cisco has just recently confirmed that it has discontinued its HyperFlex hyperconverged infrastructure products. And the reason for this is due to market trends.
And for those who don’t know what a hyperconverged infrastructure does, here it is. This combines data center elements, and this is inclusive of storage, computing, networking, and management all into one and unified system. The company has reportedly blamed evolving customer needs as well as market dynamics for its own decision.
And in light of the retirement of the service, customers have reportedly been given five years of support just before they will then be forced to find an alternative solution as well as a lasting one.
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