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    Sep 21, 2023

    Cisco to buy Splunk for US$157-a-Share in US$28 billion deal

    Molly Schuetz, Bloomberg News

    Paul Harris discusses Cisco Systems

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    Cisco Systems Inc. agreed to buy cybersecurity company Splunk Inc. in a deal valued at about US$28 billion, creating one of the world's largest software companies. 

    Cisco will pay US$157 a share in cash, the companies said in a statement Thursday. That represents a 31 per cent premium to Splunk's previous closing price on Wednesday. The combination will help make companies more resilient to cybersecurity threats, according to the statement. 

    Shares of Cisco fell about five per cent in premarket trading on the news.