16, and Splunk is set for reporting March 2. The terms of the deal have not been disclosed. The Data-to-Everything Platform providers shared news of their proposed acquisition on Tuesday. In June, the private equity firm Silver Lake made a $1 billion investment in Splunk to aid its shift from software licensing to cloud-oriented subscriptions.Ĭisco is scheduled to report quarterly earnings Feb. California tech company Splunk has announced its intentions to acquire San Franciscobased cloud-native security firm TruSTAR. As the Journal noted, Cisco has plenty of dry powder to make more acquisitions, between its market capitalization of $235 billion and more than $20 billion in cash and short-term investments.Īnd enterprise software in particular has been fairly hot, at least until recently, thanks to the pandemic forcing digital transformation on a wide range of industries. last year.Ĭisco is well-known for making a large number of acquisitions to fill out its networking product line and move into new businesses, such as videoconferencing with Webex. If it happens, the deal would be Cisco’s largest ever, dwarfing the $7 billion acquisition of Scientific Atlanta in 2005 and the $5 billion acquisition of Acacia Communications Inc. ![]() Cisco’s shares moved up after-hours only a fraction of a percentage point. But neither option will be easy.”Īfter the close of trading today, Splunk’s shares shot up nearly 13% on the potential deal. “Splunk’s management will have to find a way out of this dilemma somehow, either by finding a way to grow faster or by keeping a lid on its spending. Overall, its losses this quarter are up $120 million,” Mueller said of the previous quarter. ![]() “Splunk added $100 million in revenue compared to last year but its operating costs are up $180 million. Applications & OS News Splunk CTO Tully Set To Step Down, Company Confirms Rick Whiting April 15, 2021, 08:53 PM EDT. Splunk (NASDAQ: SPLK) news for Thursday from its third-quarter fiscal 2021 earnings report have SPLK stock taking a beating. He said that the company’s costs are growing much faster than sales. analyst Holger Mueller told SiliconANGLE late last year. Whoever becomes CEO, assuming a Cisco deal doesn’t make that moot, will have a tough task ahead, Constellation Research Inc. The executive suite at Splunk has seen a number of other shifts in the past year, in particular hiring executives from Amazon Web Services Inc., including Splunk President and Chief Growth Officer Teresa Carlson and Shawn Bice, its president of products and technology. The stock crashed 18% in November on the news that longtime Chief Executive Doug Merritt was quitting, replaced on an interim basis by Splunk Chairman Graham Smith. Splunk Inc., whose software enables companies to search, monitor and analyze machine-generated data such as logs that may indicate why hardware is malfunctioning, has been struggling in the past year with earnings and outlooks that disappointed investors. The offer tops, though not by much, Splunk’s current market capitalization of about $18 billion. ![]() The Wall Street Journal reported late Friday, however, that the companies “aren’t currently in active talks,” according to “people familiar with the matter.” Bloomberg characterized the talks as having broken down. has reportedly made a takeover offer for Splunk Inc.
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