Cisco Acquires Splunk for $28B to Boost AI-Enabled Security
– Cisco to acquire Splunk for $28 billion in its biggest deal ever.
The deal is aimed at furthering Cisco's move to develop the next generation
next generation of AI-enabled security and observability solutions
Splunk's technology helps businesses monitor and analyze their systems for cybersecurity risks and other threats
Cisco hopes to cut down on its decades-long reliance on networking equipment manufacturing
and solidify its cybersecurity and AI commitments with this acquisition
– The deal is expected to close by the end of the third quarter of 2024.
– Cisco CEO Chuck Robbins said the deal will "drive the next generation of AI-enabled security and observability."
– Splunk CEO Gary Steele said the deal represents "the next phase of Splunk's growth journey."
– Cisco's largest previous deal was the $7 billion purchase of Scientific-Atlanta in 2006.
– The global SIEM market is projected to reach $5.5 billion by 2025.
– SIEM users still face many challenges, such as adding new data to SIEM tools and detecting unknown threats.