Cisco announced on Thursday that it was buying cybersecurity software provider Splunk for $157 per share in a cash transaction estimated to be worth $28 billion.
Shares of Splunk were halted at their most recent closing price of $119.59. In premarket trade, Cisco fell 4%.
In a statement, Cisco chairman and CEO Chuck Robbins said, “We will help make organisations of all sizes more secure and resilient, from threat detection and response to threat prediction and prevention.”
A cybersecurity business called Splunk assists businesses in monitoring and analysing their data to reduce the risk of breaches and address technical issues more quickly.
Source (CNBC)