Splunk, which has a market cap of more than $18 billion, has a partnership with data-visualization company Tableau. Salesforce announced a $15.3 billion all-stock deal for Tableau on Monday. Tableau's shares also rose following the announcement.
Splunk reported a net loss of $155 million for the first quarter, but saw year-over-year revenue growth of more than 36 percent, according to a securities filing in May. The partnership with Tableau was announced in 2014.
Splunk's stock price is up more than 13 percent year-to-date but is down from highs of nearly $140 it reached in May.