© Reuters. The logo of networking gear maker Cisco Systems Inc is seen during GSMA’s 2022 Mobile World Congress (MWC) in Barcelona, Spain February 28, 2022. REUTERS/Nacho Doce
(Reuters) – Cisco Systems (NASDAQ:) said on Thursday it would acquire cybersecurity company Splunk (NASDAQ:) for about $28 billion.
Cisco’s offer price of $157 per share in cash, represents a premium of about 31% to Splunk’s closing price on Wednesday.
Upon the closing of the deal, Splunk CEO Gary Steele will join Cisco’s executive leadership team reporting to Cisco CEO Chuck Robbins.
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