HomeLifestyleMediaCSCO To Acquire SPLUNK & GOOGL Could End A.I. Chip Deal With AVGO

CSCO To Acquire SPLUNK & GOOGL Could End A.I. Chip Deal With AVGO

Cisco Systems (CSCO) is acquiring Splunk (SPLNK) for $157 per share in cash. The cash deal for Splunk is valued at $28B. Renita Young discusses this as CSCO expects the Splunk acquisition to be cash flow positive in the first fiscal year post-close. The deal represents 31% premium to Splunk’s Wednesday closing price. This will not impact CSCO’s previous share buyback program. Additionally, Broadcom (AVGO) falls on a report that their deal with Google (GOOGL) to supply A.I. chips could end. Google executives “extensively” discussed ending the deal with Broadcom as A.I. chip supplier. Tune in to find out more about the stock market today.

Morning Trade Live

21 Sep 2023

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