(Reuters) -Network gear maker Cisco Systems Inc has made a takeover offer price greater than $20 billion for software program maker Splunk Inc, the Wall Street Journal reported on Friday, citing individuals accustomed to the matter.
The offer was made just lately and the businesses aren’t in lively talks, the newspaper mentioned https://www.wsj.com/articles/cisco-made-20-billion-plus-takeover-offer-for-splunk-11644622277?web page=1, citing a few of the sources.
Cisco didn’t instantly reply to a request for remark. Splunk mentioned it doesn’t touch upon rumors or hypothesis.
In November final 12 months, San Francisco-based Splunk introduced Doug Merritt has stepped down as its chief government officer (CEO) and that the corporate’s chair, Graham Smith, can be the interim CEO.
Founded in 2003, the software program options supplier has a market capitalisation of $18.2 billion, in response to Refinitiv Eikon knowledge.
(Reporting by Jahnavi Nidumolu and Juby Babu in Bengaluru; Editing by Leslie Adler, Richard Chang and Sandra Maler)
