Cisco is acquiring the cybersecurity company Splunk for $157 per share in an all-cash deal worth approximately $28 billion. The digital communications conglomerate will finance the acquisition using a combination of cash and debt. The move marks one of Cisco's largest and continues the company's recent streak of cybersecurity acquisitions in 2023. Analyst reactions to the deal were mixed, with some concerned about product overlap, regulatory scrutiny of the large price, and Splunk's "underwhelming" pivot to cloud offerings. The deal is expected to close in the third quarter of 2024, pending any regulatory or other approvals.’