Sen. Mike Braun, R-In., provides insight on growing fears over the technology on ‘The Evening Edit.’
Cisco announced Thursday it will purchase Splunk, a cybersecurity and analytics firm, for $157 per share in cash or roughly $28 billion in equity value.
“Our combined capabilities will drive the next generation of AI-enabled security and observability,” Cisco CEO Chuck Robbins said in a statement. “From threat detection and response to threat prediction and prevention, we will help make organizations of all sizes more secure and resilient.”
Abnormal Security CEO and founder Evan Reiser shares new methods for combatting cyber threats.
The deal, which was approved by the boards of directors of both companies, comes as the industry faces a new wave of artificial intelligence technologies and increasing cybersecurity pitfalls.
“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,” Splunk CEO Gary Steele said.
MGM TO LOSE UP TO $8.4 MILLION EACH DAY AS IT RESOLVES CYBERATTACK
Cisco’s purchase will also factor in “the acceleration and adoption of generative AI, expanding threat surfaces, and multiple cloud environments.”
FOX Business’ Charles Payne joined ‘Varney & Co.’ to discuss artificial intelligence and the impact the technology has had on the stock market.
The acquisition is expected to close by the end of the third quarter of 2024.
PRESIDENT BIDEN WARNS UN TO ‘MAKE SURE’ AI DOES NOT ‘GOVERN US’
The deal is also expected to be cash flow positive, gross margin accretive in the first year after the acquisition’s close and non-GAAP EPS accretive in the second year.
SentinelOne chief security advisor Morgan Wright explains how hackers may have an advantage with A.I. technology.
The transaction will not impact Cisco’s previously announced share buyback program or dividend program. Qatalyst Partners and Morgan Stanley are acting as financial advisers to Splunk.
