SPLK Splunk Inc

By Colin Kellaher

Networking equipment giant Cisco Systems has struck a $28 billion deal to buy analytics and security software company Splunk.

Cisco on Thursday said it would pay $157 a share in cash for Splunk, a 31% premium to Wednesday's closing price of $119.59 for the San Francisco company.

San Jose-based Cisco said it expects to complete the transaction, which won't impact its stock-buyback program or its dividend, by the end of the third quarter of calendar 2024.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

September 21, 2023 08:08 ET (12:08 GMT)

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