Shares of Splunk Technology (NASDAQ: SPLK), an American software company, soared as much as 16% following reports that Cisco (NASDAQ: CSCO) are preparing a $20 billion acquisition offer.
More on Splunk👨💻 Splunk offers technology that allows monitoring & searching through big data, as well as generating reports & visualizations. Its software became popular through spotting security threats.
More on Cisco👩💻 Cisco is an American conglomerate that develops & manufactures hardware & software solutions, & is best known for its computer networking products.
More Details🧐 A report by the Wall Street Journal revealed Cisco made a $20 billion offer to acquire Splunk, although the two companies aren’t in active talks.
Why is this Important🤔 If the deal goes through, it would be Cisco’s biggest acquisition ever. As for Splunk, the news has already reflected well on its stock, which went tumbling after its CEO stepped down in November 2021.
