In November last year, San Francisco-based Splunk announced Doug Merritt has stepped down as its chief executive officer (CEO) and that the company's chair, Graham Smith, would be the interim CEO. Our robust order strength, record backlog and double-digit growth in annual recurring revenue position us well to deliver growth, said Chuck Robbins, chair and CEO of Cisco. When submitting your ticket, please include the RayID detailed below for a faster resolution. Shares of Splunk have fallen 49% since reaching a record in September 2020. So what should new GCP leader Thomas Kurian do? You will be charged You may change your billing preferences at any time in the Customer Center or call See why organizations around the world trust Splunk. According to The Wall Street Journal, which broke the news on February 11, the two companies havent gotten around to discussing the acquisition yet. Buy These 2 Stocks in 2023 and Hold for the Next Decade, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, Joe Biden Has Advocated Cutting Social Security Benefits 3 Times, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. Cisco and Splunk have been in the news since last week when The Wall . Splunk buys SaaS startup Omnition | ZDNET The analyst believes Cloudera shareholders are getting a good deal with the private equity buyout."We note CLDR has been the target of acquisition rumors since mid-2020, and thus we view the . Top Stocks 2021: If you Only Buy One IOT Stock, It Better Be Splunk Even though its cloud revenues zoomed 77% in the year, its overall revenue was down 5% year-over-year, and its operating cash flow was negative $191 million with free cash flow of negative $228 million. The acquisition by Cisco could provide much-needed breathing space for the company to invest heavily in cloud, IT security, and data observability platforms and digital transformation initiatives in the year ahead. Splunk finished trading on Friday at roughly an $18 billion market cap, and after the after-hours surge, the market cap rose to $20.2 billion. In a note to investors, Morgan Stanley analyst Meta Marshall said the Splunk acquisition would help Cisco offer stiff competition to industry leaders in the cybersecurity space. Cisco is known as a serial acquirer, effectively using acquisitions as a complement to research and development. According to The Wall Street Journal, Cisco (Nasdaq: CSCO) has made a "takeover offer" of more than $20 billion for Splunk, a software maker. The 7 Biggest Mergers and Acquisitions Stories of the Year People close to the company said the talks occurred recently, according to the Journal.
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