KEY POINTS
  • Cisco is acquiring cybersecurity firm Splunk for $157 per share in an all-cash deal.
  • Cisco will finance the deal using a combination of cash and debt.
  • The acquisition is by far Cisco's largest ever and deepens the company's bet on security software.

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Cisco is acquiring cybersecurity software company Splunk for $157 per share in a cash deal worth about $28 billion, the company said Thursday, in its largest acquisition ever.

Splunk shares ended Thursday up 21%, while Cisco shares closed down 4%.

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