Cisco has announced its intention to acquire Splunk in a landmark deal valued at approximately $28 billion. This acquisition marks Cisco's largest deal to date and underscores its commitment to developing AI-enabled security and observability solutions, which go beyond threat detection and response to include threat prediction and prevention.

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Splunk's technology, known for monitoring and analyzing systems for cybersecurity risks, will help Cisco pivot from its traditional networking equipment manufacturing focus, which has faced supply chain attacks, towards strengthening its cybersecurity and AI offerings to meet growing client demand and drive growth.The deal is expected to close by the end of the third quarter of 2024.

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