Combined, both companies will become one of the largest software companies and aims to accelerate Cisco’s business transformation and accelerate revenue growth. In addition, both commitments to innovation will enable them to be well positioned from a security perspective in the age of AI.
The acquisition also builds on Splunk’s history of helping organisations enhance their digital resilience and will hopefully accelerate Cisco's strategy to securely connect everything. The combination of these two established leaders in AI, security and observability will aim to make organisations more secure and resilient.
Finding better ways to unlock the value of data
In a world where organisations are frequently relying on data to run their business operations, organisations need new and improved ways to manage, protect and unlock data’s true value to stay protected against cyberattacks.
With the global big data market projected to be worth almost US$400bn by 2030, it is also important to factor in the acceleration and adoption of systems like generative AI. In addition, continually expanding threat surfaces and multiple cloud environments creates a level of complexity that is unlike anything organisations have faced before.
Together, Cisco and Splunk aim to address these challenges head on. The combination of two well-established leaders with complementary capabilities in AI, security and observability aim to help make organisations of all sizes more secure and digitally resilient.
"We're excited to bring Cisco and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability," said Chuck Robbins, Chair and CEO of Cisco. "From threat detection and response to threat prediction and prevention, we will help make organisations of all sizes more secure and resilient."
A shared passion for digital innovation and inclusion
Specifically, Splunk's security capabilities complement Cisco's existing portfolio and will aim to provide leading security analytics and coverage from devices to applications to clouds.
Cisco and Splunk will work to provide observability across hybrid and multi-cloud environments enabling the company's customers to deliver smooth application experiences that power their digital businesses. Cisco and Splunk are well positioned to help customers responsibly harness the power of AI given their substantial scale, visibility into data, and foundation of trust.
The acquisition also hopes to build upon both companies' reputations for being purpose-driven with similar values, strong cultures and talented teams.
"Uniting with Cisco represents the next phase of Splunk's growth journey, accelerating our mission to help organisations worldwide become more resilient, while delivering immediate and compelling value to our shareholders," said Gary Steele, President and CEO of Splunk.
He continued: “Together, we will form a global security and observability leader that harnesses the power of data and AI to deliver excellent customer outcomes and transform the industry.
“We're thrilled to join forces with a long-time and trusted partner that shares our passion for innovation and world-class customer experience, and we expect our community of Splunk employees will benefit from even greater opportunities as we bring together two respected and purpose-driven organisations.”
Please also check out our upcoming event - Cloud and 5G LIVE on October 11 and 12 2023.
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