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This weblog is co-authored by Gary Steele, President & CEO of Splunk.
President & CEO of Splunk
Quite a bit has occurred since we introduced our settlement to mix Cisco and Splunk. We’ve every been on the highway assembly with prospects to find out how collectively we may help them keep forward of the evolving expertise panorama to drive outcomes crucial to their organizations.
A typical query throughout our respective conversations has been: How will the mixed firm higher serve prospects?
We proceed to listen to from organizations all over the world that the resilience of their digital methods issues greater than ever. With the acceleration of AI, increasing menace surfaces, and hybrid, multi-cloud environments, protecting methods securely up and operating has turn into exponentially extra complicated – demanding that firms entry, analyze and act on their information quicker than ever earlier than.
We each imagine that combining Cisco and Splunk will permit us to harness the facility of information and AI to ship distinctive buyer outcomes now and sooner or later. And the nice factor is, we now have a stable basis to construct upon.
Over the final 10 years, Cisco and Splunk have partnered to assist 1000’s of organizations navigate the challenges of the hyperconnected world. Our complementary capabilities have helped shield our prospects and discover and repair issues by powering complete visibility throughout extremely complicated expertise stacks. Joining forces would be the subsequent step in our journey to carry transformative innovation to organizations worldwide.
Accelerating innovation throughout safety and observability
Splunk and Cisco have been independently innovating at an accelerated tempo to maintain up with the dynamic expertise panorama. In the final 12 months, Cisco has launched the Cisco Networking Cloud, Cisco Extended Detection and Response (XDR), Cisco Secure Access (SSE), and Cisco Multicloud Defense, Cisco Full-Stack Observability Platform, G200 and G202 networking chips for AI workloads, and AI Assistants and capabilities throughout Cisco’s collaboration, safety, and observability portfolios.
Splunk, too, continues to speed up innovation throughout its AI-powered Security and Observability product portfolio. Take safety for instance. At Splunk’s marquee buyer and accomplice occasion, .conf23, Splunk launched a number of new options for its award-winning Enterprise Security and SOAR merchandise, and in addition introduced the overall availability of Splunk Attack Analyzer, which integrates the capabilities acquired from TwinWave final yr into Splunk’s unified safety operations expertise.
We imagine the union of Splunk and Cisco’s applied sciences will speed up the modern safety options wanted within the fashionable SOC. We’re excited by the potential worth that our complementary options, Splunk’s SIEM and Cisco’s highly effective XDR, will present safety groups on the frontlines of an evolving menace panorama. We’re additionally excited by the large alternatives that exist to drive larger reliability and efficiency for organizations via the complementary worth throughout Splunk’s observability portfolio, logging and IT infrastructure monitoring options and Cisco’s observability platform and AppDynamics APM portfolio.
During this time of transition, prospects can proceed to depend on each of our organizations to innovate on the speedy tempo they’ve come to anticipate. When we come collectively, we’re excited for the chance to speed up our joint innovation even additional to carry organizations unimaginable breadth and depth in our options to drive visibility, safety, and reliability throughout their complete tech stack. Joining forces represents a major funding to double down on the tempo of innovation throughout safety and observability to proceed driving unimaginable buyer worth.
Expanded world attain and the facility of partnership
Cisco has large world scale, and collectively, we’ll draw upon our collective assets and infrastructure to allow extra organizations globally to advance resilience via Cisco and Splunk’s expansive services.
One instance is the Cisco accomplice ecosystem that performs an instrumental position in getting highly effective applied sciences to extra prospects globally. Both of our organizations proceed to see superb alternatives to forge partnerships and assist our future joint prospects unlock incremental worth.
Cisco has been dedicated to its world accomplice ecosystem and partner-led mannequin for greater than 27 years. Thousands of companions world-wide assist us go to market, streamline complexity, and ship measurable enterprise worth for our prospects, by assembly them the place they’re with the expertise they want.
Add to that Splunk’s accomplice ecosystem, which consists of greater than 2,600 organizations all devoted to serving to prospects understand the large worth of its AI-powered safety and observability. This community works hand-in-hand with prospects all over the world to carry the suitable experience and strategic partnership on the proper time to assist drive resilience.
Next steps in our journey collectively
Cisco and Splunk are excited to proceed to do what we love most: serving to our prospects obtain their expertise outcomes with progressive merchandise and options. That mentioned, it’s vital to do not forget that we’re solely at the start of planning for our future collectively. Until the transaction closes, which we anticipate to happen by the top of the third quarter of calendar yr 2024, Cisco and Splunk stay separate and unbiased firms.
Between now and shut, Cisco and Splunk anticipate to proceed working seamlessly with our respective prospects. For every of our respective organizations, there shall be no fast adjustments to the companies Cisco or Splunk present or adjustments to how both firm helps its prospects.
Finally, we wish to emphasize that neither Splunk nor Cisco can be the place we’re right now with out the loyalty and belief of our respective prospects. You drive us to be the perfect within the trade, and we’re grateful to your ongoing belief and partnership. We imagine the long run is shiny for Cisco and Splunk, and – extra importantly, for our prospects. Together, we are able to unlock many extra alternatives to assist securely join every part all whereas constructing a safer and extra resilient digital world.
Splunk Cautionary Statement Regarding Forward-Looking Statements
This weblog accommodates “forward-looking statements” throughout the which means of the federal securities legal guidelines, together with Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are primarily based on Splunk’s present expectations, estimates and projections in regards to the anticipated date of closing of the proposed transaction and the potential advantages thereof, its enterprise and trade, administration’s beliefs and sure assumptions made by Splunk and Cisco, all of that are topic to vary. In this context, forward-looking statements usually handle anticipated future enterprise and monetary efficiency and monetary situation, and sometimes comprise phrases akin to “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “expect,” “target,” comparable expressions or the negatives of those phrases or different comparable terminology that convey uncertainty of future occasions or outcomes. All forward-looking statements by their nature handle issues that contain dangers and uncertainties, lots of that are past our management, and are usually not ensures of future outcomes, akin to statements in regards to the consummation of the proposed transaction and the anticipated advantages thereof. These and different forward-looking statements, together with the failure to consummate the proposed transaction or to make or take any submitting or different motion required to consummate the transaction on a well timed matter or in any respect, are usually not ensures of future outcomes and are topic to dangers, uncertainties and assumptions that might trigger precise outcomes to vary materially from these expressed in any forward-looking statements. Accordingly, there are or shall be vital components that might trigger precise outcomes to vary materially from these indicated in such statements and, subsequently, you shouldn’t place undue reliance on any such statements and warning have to be exercised in counting on forward-looking statements. Important danger components which will trigger such a distinction embrace, however are usually not restricted to: (i) the completion of the proposed transaction on anticipated phrases and timing, together with acquiring shareholder and regulatory approvals, anticipated tax therapy, unexpected liabilities, future capital expenditures, revenues, bills, earnings, synergies, financial efficiency, indebtedness, monetary situation, losses, future prospects, enterprise and administration methods for the administration, enlargement and progress of Splunk’s enterprise and different circumstances to the completion of the transaction; (ii) the impression of the COVID-19 pandemic on Splunk’s enterprise and common financial circumstances; (iii) Splunk’s potential to implement its enterprise technique; (iv) vital transaction prices related to the proposed transaction; (v) potential litigation regarding the proposed transaction; (vi) the chance that disruptions from the proposed transaction will hurt Splunk’s enterprise, together with present plans and operations; (vii) the flexibility of Splunk to retain and rent key personnel; (viii) potential hostile reactions or adjustments to enterprise relationships ensuing from the announcement or completion of the proposed transaction; (ix) legislative, regulatory and financial developments affecting Splunk’s enterprise; (x) common financial and market developments and circumstances; (xi) the evolving authorized, regulatory and tax regimes below which Splunk operates; (xii) potential enterprise uncertainty, together with adjustments to present enterprise relationships, in the course of the pendency of the merger that might have an effect on Splunk’s monetary efficiency; (xiii) restrictions in the course of the pendency of the proposed transaction which will impression Splunk’s potential to pursue sure enterprise alternatives or strategic transactions; and (xiv) unpredictability and severity of catastrophic occasions, together with, however not restricted to, acts of terrorism or outbreak of battle or hostilities, in addition to Splunk’s response to any of the aforementioned components. These dangers, in addition to different dangers related to the proposed transaction, are extra totally mentioned within the definitive proxy assertion filed with the U.S. Securities and Exchange Commission on October 30, 2023 in reference to the proposed transaction. While the checklist of things offered right here is, and the checklist of things offered within the proxy assertion is, thought of consultant, no such checklist must be thought of to be an entire assertion of all potential dangers and uncertainties. Unlisted components could current vital further obstacles to the belief of ahead wanting statements. Consequences of fabric variations in outcomes as in contrast with these anticipated within the forward-looking statements might embrace, amongst different issues, enterprise disruption, operational issues, monetary loss, authorized legal responsibility to 3rd events and comparable dangers, any of which might have a cloth hostile impact on Splunk’s monetary situation, outcomes of operations, or liquidity. Splunk doesn’t assume any obligation to publicly present revisions or updates to any forward-looking statements, whether or not on account of new data, future developments or in any other case, ought to circumstances change, besides as in any other case required by securities and different relevant legal guidelines.
Cisco Cautionary Statement Regarding Forward-Looking Statements
This weblog could also be deemed to comprise forward-looking statements, that are topic to the protected harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements that aren’t statements of historic reality (together with statements containing the phrases “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” “strives,” “goal,” “intends,” “may,” “endeavors,” “continues,” “projects,” “seeks,” or “targets,” or the unfavorable of those phrases or different comparable terminology, in addition to comparable expressions) must be thought of to be forward-looking statements, though not all forward-looking statements comprise these figuring out phrases. Readers shouldn’t place undue reliance on these forward-looking statements, as these statements are the administration’s beliefs and assumptions, lots of which, by their nature, are inherently unsure, and outdoors of the administration’s management. Forward-looking statements could embrace statements concerning the anticipated advantages to Cisco, Splunk and their respective prospects from finishing the transaction, the mixing of Splunk’s and Cisco’s complementary capabilities to create an end-to-end platform designed to unlock larger digital resilience for patrons, plans for future funding and capital allocation, the anticipated monetary efficiency of Cisco following the anticipated completion of the transaction, and the anticipated completion of the transaction. Statements concerning future occasions are primarily based on the events’ present expectations, estimates and projections and are essentially topic to related dangers associated to, amongst different issues, (i) the completion of the proposed transaction on anticipated phrases and timing, together with acquiring stockholder and regulatory approvals and different circumstances to the completion of the transaction, (ii) the impact of the announcement or pendency of the proposed transaction on Splunk’s enterprise, working outcomes, and relationships with prospects, suppliers, rivals and others, (iii) dangers that the proposed transaction could disrupt Splunk’s present plans and enterprise operations, (iv) dangers associated to the diverting of administration’s consideration from Splunk’s ongoing enterprise operations, (v) the prevalence of any occasion, change or different circumstances that might give rise to the termination of the definitive settlement, (vi) the end result of any authorized proceedings associated to the transaction, (vii) the potential results on the accounting of the proposed transaction, (viii) legislative, regulatory and financial developments, (ix) common financial circumstances, (x) restrictions in the course of the pendency of the proposed transaction which will impression Splunk’s potential to pursue sure enterprise alternatives or strategic transactions, (xi) the retention of key personnel, and (xii) the flexibility of Cisco to efficiently combine Splunk’s market alternatives, expertise, personnel and operations and to realize anticipated advantages. Therefore, precise outcomes could differ materially and adversely from the anticipated outcomes or outcomes indicated in any forward-looking statements. For data concerning different associated dangers, see the “Risk Factors” part of Cisco’s most up-to-date report on Form 10-Okay filed on September 7, 2023, the “Risk Factors” part of Splunk’s most up-to-date studies on Form 10-Q and Form 10-Okay filed with the SEC on August 24, 2023 and March 23, 2023, respectively, and dangers described within the definitive proxy assertion regarding the transaction filed with the SEC by Splunk on October 30, 2023. The events undertake no obligation to revise or replace any forward-looking statements for any purpose, besides as required by legislation.
Additional Information and Where to Find It
In reference to the proposed transaction and required stockholder approval, Splunk filed with the SEC a definitive proxy assertion on October 30, 2023. The proxy assertion has been mailed to the stockholders of Splunk. This doc isn’t an alternative choice to the proxy assertion or another doc which Splunk could file with the SEC. Splunk’s stockholders are urged to rigorously learn the proxy assertion (together with all amendments, dietary supplements and any paperwork included by reference therein) and different related supplies filed or to be filed with the SEC and of their entirety as a result of they comprise vital details about the proposed transaction and the events to the transaction. Investors could acquire free copies of those paperwork and different paperwork filed with the SEC at its web site at www.sec.gov. In addition, buyers could acquire free copies of the paperwork filed with the SEC by Splunk by going to Splunk’s Investor Relations web page on its company web site at https://investors.splunk.com or by contacting Splunk Investor Relations at ir@splunk.com.
Participants within the Solicitation
Splunk and its govt officers and administrators could also be deemed to be members within the solicitation of proxies from Splunk’s stockholders with respect to the transaction. Information about Splunk’s administrators and govt officers, together with their possession of Splunk securities, is about forth within the definitive proxy assertion associated to the transaction, which was filed with the SEC on October 30, 2023, proxy assertion for Splunk’s 2023 Annual Meeting of Stockholders, which was filed with the SEC on May 9, 2023, Form 8-Okay filed with the SEC on September 21, 2023, and Splunk’s different filings with the SEC. Investors could acquire extra detailed data concerning the direct and oblique pursuits of Splunk and its respective govt officers and administrators within the transaction, which can be totally different than these of Splunk stockholders usually, by studying the definitive proxy assertion concerning the transaction, which was filed with the SEC.
In addition, Cisco and its govt officers and administrators could also be deemed to have participated within the solicitation of proxies from Splunk’s stockholders in favor of the approval of the transaction. Information regarding Cisco’s administrators and govt officers is about forth in Cisco’s proxy assertion for its 2023 Annual Meeting of Stockholders, which was filed with the SEC on October 17, 2023, the 2023 annual report furnished to safety holders on October 17, 2023, annual report on Form 10-Okay filed with the SEC on September 7, 2023, Form 8-Okay filed with the SEC on September 21, 2023 and Cisco’s different filings with the SEC. These paperwork can be found freed from cost on the SEC’s web site at www.sec.gov or by going to Cisco’s Investor Relations web site at https://investor.cisco.com.
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