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Cisco's $28 billion Splunk deal may ignite software deal frenzy

Economic Times

Economic Times · 1y ago

Cisco's $28 billion Splunk deal may ignite software deal frenzy

Cisco Systems' $28 billion acquisition of Splunk may lead other tech giants to pursue similar deals with software vendors that generate predictable subscription revenue, according to analysts and investment bankers. Splunk, a cybersecurity and data analytics company, was shifting from licensing to subscription-based revenue when it agreed to the acquisition. Microsoft, Adobe, and Oracle are potential acquirers of similar subscription-focused software companies like Elastic NV, Datadog, Crowdstrike Holdings, and Dynatrace. Cisco's acquisition highlights the value of recurring revenue in the software industry, and improved economic outlooks and lower interest rates are expected to drive more tech acquisitions.

Related News

Cisco to acquires Splunk for $28 Billion!

Economic Times

Economic Times · 1y ago

Cisco to acquires Splunk for $28 Billion!

Cisco Systems has announced its plans to acquire cybersecurity company Splunk for approximately $28 billion. This acquisition aims to strengthen Cisco's network security business significantly. The offer price of $157 per share in cash represents a premium of about 31% to Splunk's previous closing price. The deal, pending regulatory approvals, is expected to close by the end of the third quarter of 2024 and has received unanimous approval from the boards of both companies.

Cisco beats earnings expectations as AI spurs networking gear demand

Economic Times

Economic Times · 8m ago

Cisco beats earnings expectations as AI spurs networking gear demand

Cisco Systems exceeded expectations in its first-quarter results, driven by increasing demand for its networking gear in the midst of the AI boom. The company predicts higher quarterly revenue and profit than anticipated, thanks to investments in AI technologies that require data centers utilizing Cisco's products. To diversify its business, Cisco aims to reduce reliance on its networking equipment division by focusing on areas such as cybersecurity, cloud systems, and AI-driven products. Despite facing supply chain issues and a downturn in demand, the company completed its acquisition of Splunk, enhancing its software business and cybersecurity capabilities. The company expects second-quarter revenue to surpass estimates, along with a rise in adjusted profit per share. Cisco forecasts annual revenue and adjusted profit within an optimistic range.

Cisco acquires eBPF networking startup Isovalent

Medial

Medial · 1y ago

Cisco acquires eBPF networking startup Isovalent

Cisco is set to acquire Isovalent, a startup specializing in networking software based on the open-source eBPF tool. The deal, whose financial terms were not disclosed, follows Cisco's participation in a $29 million funding round for Isovalent two years ago. Isovalent's expertise lies in eBPF, as well as its projects Cilium and Tetragon, which enhance networking capabilities and cybersecurity features. Cisco aims to leverage Isovalent's technology for cybersecurity expansion, with a focus on the commercial tool Cilium Mesh, which connects applications across different environments. Cisco plans to combine Cilium Mesh with its software-defined networking products.

Chipmaker Broadcom expects $69 billion VMware deal to close before November deadline

Economic Times

Economic Times · 1y ago

Chipmaker Broadcom expects $69 billion VMware deal to close before November deadline

US chipmaker Broadcom and cloud-computing firm VMware expect their $69 billion merger deal to be completed before the November deadline, according to a statement. However, concerns remain over securing approval from China's State Administration of Market Regulation (SAMR). Broadcom has received clearances from various regulatory bodies, but China's approval may be delayed due to stricter chip controls introduced by the US. The deal, Broadcom's largest ever, aims to diversify the chipmaker into enterprise software.

Brookfield-backed Leela hotels owner Schloss slashes IPO size by 30%

VCCircle

VCCircle · 1m ago

Brookfield-backed Leela hotels owner Schloss slashes IPO size by 30%

Schloss Bangalore, the owner of India's Leela hotels and backed by Brookfield, reduced its IPO size by 30% to 35 billion rupees ($409 million), as detailed in its prospectus. Initially, the company aimed for a 50 billion-rupee offering. The IPO is scheduled for May 26-28, with large "anchor" investors invited to bid on May 23.

Adobe’s $20 billion Figma deal risks veto from UK watchdog

Livemint

Livemint · 1y ago

Adobe’s $20 billion Figma deal risks veto from UK watchdog

The UK competition watchdog, the Competition and Markets Authority (CMA), has warned that Adobe's planned $20 billion acquisition of Figma Inc., a design software maker, may face blockage unless remedies are provided to address competition concerns. The CMA believes the deal could lead to reduced competition in product design software and hinder the development of new products. This follows objections raised by the European Union regulator earlier this month. Adobe's purchase, aiming to tap into the growing market of small businesses and everyday users on the web, is seen as the largest-ever takeover of a private software company.

Tech guru Cathie Wood says Nvidia is the Cisco of the AI boom and warns its growth may falter

Business Insider

Business Insider · 1y ago

Tech guru Cathie Wood says Nvidia is the Cisco of the AI boom and warns its growth may falter

Cathie Wood, CEO of Ark Invest, has expressed concerns about the future growth of Nvidia and drew a parallel between its stock surge and Cisco's during the dot-com bubble. Wood highlighted Nvidia's impressive growth in recent years, but warned that its rapid rise could be unsustainable, much like Cisco's experience in the past. She pointed out that Nvidia's customers may have stockpiled more chips than necessary, leading to a potential slowdown in spending. Wood also noted increasing competition from the likes of AMD and companies developing their own AI chips. Despite her cautious outlook, Wood acknowledged the unpredictable nature of technological advancements.

Exclusive: Google parent Alphabet weighs offer for HubSpot, sources say

Reuters · 1y ago

Exclusive: Google parent Alphabet weighs offer for HubSpot, sources say

Google parent company Alphabet is reportedly considering making an offer to acquire online marketing software company HubSpot. The potential deal, which would be a rare example of a major technology company attempting a mega deal, comes as Alphabet looks to deploy some of its $110.9 billion cash pile. Advisors for Alphabet have been discussing the offer and potential regulatory implications. However, no offer has been submitted yet, and there is no certainty that a deal will materialize. HubSpot, which provides marketing software to companies, generated $2.2 billion in revenue in 2023.

Microsoft’s $650 million deal with Inflection AI: Key things to know

Economic Times

Economic Times · 1y ago

Microsoft’s $650 million deal with Inflection AI: Key things to know

Tech giant Microsoft has paid $650 million to AI startup Inflection to license its software. The deal follows Microsoft's recent hiring of Inflection's co-founders and most of its staff. As part of the agreement, Microsoft will pay $620 million to license Inflection's AI models and an additional $30 million to relinquish legal rights related to the recent hiring. Inflection, which is valued at $4 billion, plans to shift its focus to selling models to enterprise customers. The deal may face scrutiny from antitrust regulators, similar to other tech deals in the industry.

Reddit might IPO!

Livemint

Livemint · 1y ago

Reddit might IPO!

Reddit Inc. is reportedly in talks with potential investors for an IPO, as the market for new listings prepares to reopen. The social media company, known for its role in the meme-stock frenzy, is considering an IPO as early as the first quarter of 2024, with a potential valuation of $15 billion. Other companies, such as Rubrik Inc. and Skims, are also exploring IPO options. However, plans may change, and there is no guarantee that these companies will proceed with their listings.

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