Network gear maker Cisco Systems has made a takeover offer worth more than $20 billion for software maker Splunk, the Wall Street Journal said in its news report.
Cisco made the offer recently and the companies are not in active talks. Cisco has reported revenue of $12.9 billion, net income of $3.0 billion in its first quarter results for the period ended October 30, 2021.
San Francisco-based Splunk in November 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.
Founded in 2003, the software solutions provider has a market capitalisation of $18.2 billion.
Splunk in December provided revenue guidance of between $2.51 billion and $2.56 billion for its fiscal year 2022 (ending January 31, 2022).
Some of the new customers of Splunk include Alamo, ATB Financial, Bambuser, Bendigo and Adelaide Bank, Blue Yonder, CAINZ Corporation, Commonwealth Bank Australia, Duck Creek Technologies, LendingClub, Veolia, University of Nebraska, and University of Virginia.
