© Reuters. FILE PHOTO: A man passes under a Cisco logo at the Mobile World Congress in Barcelona, Spain February 25, 2019. REUTERS/Sergio Perez
(Reuters) -Network gear maker Cisco Systems Inc (NASDAQ:) has made a takeover offer worth more than $20 billion for software maker Splunk (NASDAQ:) Inc, the Wall Street Journal reported on Friday, citing people familiar with the matter.
The offer was made recently and the companies are not in active talks, the newspaper said https://www.wsj.com/articles/cisco-made-20-billion-plus-takeover-offer-for-splunk-11644622277?page=1, citing some of the sources.
Cisco did not immediately respond to a request for comment. Splunk said it does not comment on rumors or speculation.
In November last year, San Francisco-based Splunk announced Doug Merritt has stepped down as its chief executive officer (CEO) and that the company’s chair, Graham (NYSE:) Smith, would be the interim CEO.
Founded in 2003, the software solutions provider has a market capitalisation of $18.2 billion, according to Refinitiv Eikon data.
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