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(Reuters) -Network gear maker Cisco Systems Inc (NASDAQ 🙂 has made a takeover offer worth more than $ 20 billion for software maker Splunk (NASDAQ 🙂 Inc, the Wall Street Journal reported on Friday, citing people familiar with the matter.
The offer was made recently and the companies are not in active talks, the newspaper said https://www.wsj.com/articles/cisco-made-20-billion-plus-takeover-offer-for-splunk-11644622277?page = 1, citing some of the sources.
Cisco did not immediately respond to a request for comment. Splunk said it does not comment on rumors or speculation.
In November last year, San Francisco-based Splunk announced Doug Merritt has stepped down as its chief executive officer (CEO) and that the company’s chair, Graham (NYSE 🙂 Smith, would be the interim CEO.
Founded in 2003, the software solutions provider has a market capitalization of $ 18.2 billion, according to Refinitiv Eikon data.
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