Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessSplunk Stock Jumps 20 percent on Cisco’s Acquisition Announcement

Splunk Stock Jumps 20 percent on Cisco’s Acquisition Announcement

Add to Favorite
Added to Favorite


Cisco Systems (NASDAQ:CSCO) and Splunk (NASDAQ:SPLK) have reached a definitive agreement, with Cisco planning to purchase Splunk for $157 per share in cash, amounting to a total transaction value of approximately $28 billion. This announcement caused Cisco’s stock to drop by nearly 5%, while Splunk shares jumped more than 20% pre-market today.
Once the acquisition is finalized, Gary Steele, the current President and CEO of Splunk, will join Cisco’s Executive Leadership Team, reporting to Chair and CEO Chuck Robbins. The transaction is anticipated to close by the end of the third quarter of the 2024 calendar year. Cisco expects the acquisition to have a positive impact on cash flow and gross margin in the first fiscal year after completion, with non-GAAP earnings per share (EPS) becoming accretive in the second year.

Subscribe to get Latest News Updates

Latest News

You may like more
more

Inditex’s Upcoming Earnings Report: A Comprehensive Analysis

Inditex (IDEXY) is expected to release its quarterly earnings...

China Investigates Nvidia Over Antitrust Concerns

China has initiated an investigation into Nvidia, citing potential...

Citi Predicts S&P 500 to Hit 6,500 by 2025 Amid Rising Volatility

Citi analysts have projected a significant milestone for the...

Investors Complacent Heading Into 2025: What BCA Research Warns

BCA Research cautions that investors might be overly relaxed...