Brief: Cisco To Acquire Splunk, To Help Make Organizations More Secure And Resilient In An Ai-Powered World

Splunk

21/09/2023 12:55

Sept 21 (Reuters) - Cisco Systems Inc  CSCO.O :
    * CISCO TO ACQUIRE SPLUNK, TO HELP MAKE ORGANIZATIONS MORE
SECURE
AND RESILIENT IN AN AI-POWERED WORLD
    * SPLUNK INC: PROPOSED DEAL FOR $157 PER SHARE IN CASH,
REPRESENTING APPROXIMATELY $28 BILLION IN EQUITY VALUE.
    * SPLUNK INC - SPLUNK PRESIDENT AND CEO GARY STEELE WILL
JOIN
CISCO'S EXECUTIVE LEADERSHIP TEAM REPORTING TO CHAIR AND CEO
CHUCK ROBBINS
    * SPLUNK INC: DEAL EXPECTED TO BE CASH FLOW POSITIVE AND
GROSS
MARGIN ACCRETIVE IN FIRST FISCAL YEAR POST CLOSE
    * SPLUNK INC - TRANSACTION WILL NOT IMPACT CISCO'S
PREVIOUSLY
ANNOUNCED SHARE BUYBACK PROGRAM OR DIVIDEND PROGRAM
    * SPLUNK INC- EXPECTED TO BE CASH FLOW POSITIVE AND GROSS
MARGIN
ACCRETIVE IN FIRST FISCAL YEAR POST CLOSE
    * SPLUNK INC - ACQUISITION HAS BEEN UNANIMOUSLY APPROVED BY
BOARDS
OF DIRECTORS OF BOTH CISCO AND SPLUNK
    * SPLUNK INC - EXPECTED TO CLOSE BY END OF Q3 OF CALENDAR
YEAR
2024
    * SPLUNK INC: DEAL WILL ACCELERATE CISCO'S REVENUE GROWTH
AND
GROSS MARGIN EXPANSION
    * SPLUNK INC: DEAL EXPECTED TO BE NON-GAAP EPS ACCRETIVE IN
YEAR 2

Source text for Eikon:  ID:nPn7mLcDJa 
Further company coverage:  CSCO.O 

 ((Reuters.Briefs@thomsonreuters.com))