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Cisco's acquisition of Splunk is expected to close in Q3 of 2024, subject to the approval of regulators and Splunk's shareholders.

Cisco Systems will buy cybersecurity software company Splunk for $157 per share in cash, or approximately $28 billion in equity value, in a move that analysts see as an "aggressive strategic play in cybersecurity."

The Cisco-Splunk deal positions the two cybersecurity giants for newer markets like XDR, but they face regulatory and market challenges.

(Bloomberg) -- If the deluge of data in the modern world is increasingly overwhelming, Splunk claims to have been ready for it for 20 years.Most Read from BloombergIndia Suspends Visas, Canada Pulls Diplomats Amid TensionsEx-Goldman Bankers Make a Fortune With Controversial Bet on Coal‘Dead Space’ Co-Creator Departs Startup After Newest Game FlopsWall Street Trading Roiled by ‘Post-Fed Hangover’: Markets WrapCisco to Buy Splunk for $28 Billion in Giant AI-Powered Data BetThe company’s name refle

Expectations for another potential rate hike sent yields on both the 2-year and 10-year Treasury bonds to their highest levels in almost two decades. Stocks continued their post-Fed slump Thursday, with all 11 S&P 500 sectors finishing in the red. While the central bank held rates steady at its September meeting, it left the door open for another rate hike by year's end – news that sent Treasury yields spiking to levels not seen in nearly two decades. Indeed, the 2-year Treasury yield topped out