Cisco’s Splunk Deal Highlights Growing Interest In The Intersection Of Cybersecurity And AI

Cisco Systems has agreed to acquire Splunk, a San Francisco-based data and security firm, in a deal valued at approximately $28 billion. This marks the largest enterprise software deal of the year, surpassing Silver Lake's $12.5 billion acquisition of Qualtrics. The acquisition is part of Cisco's ongoing push into software and is largely driven by Splunk's new AI offerings for detecting and responding to threats.

In addition to the Cisco deal, there have been several other significant investments in AI cybersecurity startups. These include a $50 million Series A funding round for HiddenLayer, a $3 million seed round for Patronus AI, a $40 million round for Legit Security, and a $3 million seed round for Discern Security. Despite a general downturn in funding for startups, interest in the intersection of AI and cybersecurity remains strong, with nearly $1 billion raised in 70 deals this year.

Key takeaways

Cisco Systems has agreed to buy Splunk in a deal valued at about $28 billion, marking the biggest enterprise software deal of the year.
The deal is part of Cisco's push into software and is driven by Splunk's new AI offerings in cybersecurity.
Other recent deals in the cyber AI space include investments in HiddenLayer, Patronus AI, Legit Security, and Discern Security.
Despite a general downturn in funding, cybersecurity startups using AI have raised nearly $1 billion in 70 deals this year, according to Crunchbase data.

Cisco’s Splunk Deal Highlights Growing Interest In The Intersection Of Cybersecurity And AI

Key takeaways

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