Cisco has completed its acquisition deal with log analytics company Splunk. The American networking giant is paying $28 billion for the takeover, which amounts to approximately 25.8 billion euros.
In a press release, Cisco reports that the takeover deal will be completed approximately six months after the announcement after it has received approval. of the competition authorities. According to the European Commission, the takeover would have a limited impact on the markets in which the parties are active, where there is also sufficient competition. As a result, there are no objections to the deal.
The acquisition was completed faster than the company initially expected. Cisco originally targeted the third quarter of 2024. Cisco's acquisition of Splunk is the networking giant's largest acquisition deal to date. Cisco will pay $157 per share, with a total value of $28 billion. In February, the company announced another round of layoffs of approximately 5 percent of its workforce.