Cisco’s Splunk deal set to win unconditional EU antitrust OK, sources say
FILE PHOTO: The Cisco logo is displayed, during the GSMA’s 2023 Mobile World Congress (MWC) in Barcelona, Spain March 1, 2023. REUTERS/Nacho Doce/File Photo
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By Foo Yun Chee
BRUSSELS (Reuters) – Cisco Systems (NASDAQ:CSCO) is set to secure unconditional EU antitrust approval for its $28 billion bid for cybersecurity firm Splunk (NASDAQ:SPLK), two people with direct knowledge of the matter said on Tuesday.
The deal announced last year and Cisco’s biggest ever will boost its software business amid a boom in artificial intelligence and also help offset a post-pandemic slowdown in demand.
The European Commission is set to clear the deal after its preliminary review ends on March 13 after finding no anti-competitive issues, the people said.
The EU competition enforcer declined to comment. Cisco and Splunk did not immediately respond to requests for comment.
Last month, San Francisco, California-based Splunk said it expects the deal to close towards the end of the current quarter or early in the second quarter of 2024.
