Cisco Announced Acquisition of Splunk for $28B Mega Deal

Cisco has announced its largest acquisition by purchasing cybersecurity software company Splunk. The cash deal is worth approximately $28 billion, with each share being acquired for $157.

Cisco has been facing challenges with its networking equipment business in recent years due to supply chain issues and a slowdown in demand following the pandemic. To mitigate this, the company has struck a deal to reduce its dependence on this segment.