Cisco's $28 bln Splunk deal set for March 13 EU antitrust decision
08/02/2024 16:39
By Foo Yun Chee
BRUSSELS, Feb 8 (Reuters) - EU antitrust regulators have
set a March 13 deadline to decide whether to clear Cisco
Systems' CSCO.O $28 billion bid for cybersecurity firm Splunk
SPLK.O , according to a European Commission filing.
The technology deal, which was the biggest of last year,
will help to reduce Cisco's reliance on its networking equipment
business, which has faced supply chain issues and slowing demand
in the post-pandemic period.
The EU competition watchdog can clear the deal with or
without remedies after its preliminary review or it can open a
full-scale investigation as the next step if it has serious
concerns.
Antitrust regulators, worried about large players
strengthening their market power at the expense of smaller or
new rivals, have taken a tough line on tech mergers.
San Jose, California-based Cisco already has a data-security
partnership with Splunk, which counts Coca-Cola KO.N , Intel
INTC.O and Porsche among its more than 15,000 customers.
(Reporting by Foo Yun Chee; editing by Barbara Lewis)
((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))