Cisco's Splunk deal set to win unconditional EU antitrust OK, sources say
05/03/2024 12:34
By Foo Yun Chee
BRUSSELS, March 5 (Reuters) - Cisco Systems CSCO.O is
set to secure unconditional EU antitrust approval for its $28
billion bid for cybersecurity firm Splunk SPLK.O , two people
with direct knowledge of the matter said on Tuesday.
The deal announced last year and Cisco's biggest ever will
boost its software business amid a boom in artificial
intelligence and also help offset a post-pandemic slowdown in
demand.
The European Commission is set to clear the deal after its
preliminary review ends on March 13 after finding no
anti-competitive issues, the people said.
The EU competition enforcer declined to comment. Cisco and
Splunk did not immediately respond to requests for comment.
Last month, San Francisco, California-based Splunk said it
expects the deal to close towards the end of the current quarter
or early in the second quarter of 2024.
(Reporting by Foo Yun Chee; editing by Jason Neely)
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