“Cisco on Thursday announced the acquisition of software company Splunk for $28 billion — the network equipment giant’s largest ever deal — as the company hopes to cash in on the artificial intelligence boom and carve out more software and cloud business.
The massive buy plan is the latest in a slate of recent acquisitions that has the company reducing its focus on its main networking equipment business that has been stymied in recent years by supply chain woes and the rise of off-premises cloud adoption. Just this year, Cisco acquired four companies, including threat detection platform Armorblox, identity management firm Oort, and cloud security firms Valtix and Lightspin…”
Source: Cisco Will Buy Splunk for $28B in Huge AI Cybersecurity Play. By Shane Snider. September 2-, 2023. Information Week.
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