Splunk To BeTaken Over By Cisco In A $20 billion-plus Deal

Network gear company Cisco (CSCO) Systems has launched a takeover bid worth over $20 billion for software company Splunk (SPLK), The Wall Street Journal said on Friday, citing sources familiar with the issue.

The offer was made lately, and the companies are not in active talks, the newspaper stated, citing some of the sources.

Cisco did not immediately respond to a request for comment. Splunk stated it does not comment on rumors or speculation.

In  last year November, San Francisco-based Splunk revealed Doug Merritt had resigned as its ceo and the company’s chair, Graham Smith, would be the temporary CEO.