シスコ、Splunk を買収へ AI 活用の広がる世界でセキュリティとレジリエンス強化を支援

ニュースサマリー

• シスコと Splunk が協力し、「脅威の検知・対応」から「脅威の予測・予防」への移行を支援
• シスコと Splunk の 2 社で世界最大級のソフトウェア企業を形成し、シスコの事業変革を推進し、経常収益を拡大
• キャッシュフローはプラスとなり、取引完了後、初年度の売上総利益増、2 年目の非 GAAP EPS 増を見込む。収益の増加、売上総利益の拡大を推進
• 同じような価値観、強力な社風、優れた人材を有する 2 つの「Great Place to Work（働きがいのある会社）」が 1 つに
• 革新的なリーディングカンパニー 2 社が 1 つになり、AI 時代のセキュリティとオブザーバビリティを牽引できる態勢に

カリフォルニア州サンノゼおよびサンフランシスコ – 2023年09月21日 – シスコ（本社：米国カリフォルニア州サンノゼ、以下：シスコ）とサイバーセキュリティおよびオブザーバビリティのリーディングカンパニーである Splunk（NASDAQ：SPLK）は本日、シスコが Splunk を 1 株あたり 157 ドルの現金（株式価値約 280 億ドル）で買収する最終契約を締結したことを発表しました。買収完了に伴い、Splunk のプレジデント兼 CEO のゲイリー・スティール（Gary Steele）氏はシスコのエグゼクティブ リーダーシップ チームに加わり、会長兼 CEO のチャック・ロビンス（Chuck Robbins）の直属となります。

この買収では、組織のデジタルレジリエンスの強化を支援してきた Splunk の伝統を受け継ぎ、あらゆるものを安全に接続し、あらゆることを可能にするというシスコの戦略を推進します。AI、セキュリティ、オブザーバビリティの分野で屈指の存在として認められる 2 社が 1 つになることで、組織のセキュリティ、レジリエンス強化を支援します。

シスコの会長兼 CEO のチャック・ロビンスは次のように述べています。「シスコと Splunk が 1 つになることを非常に嬉しく思います。両社の力を合わせ、AI を活用した次世代のセキュリティおよびオブザーバビリティを推進してまいります。脅威の検知・対応から、脅威の予測・予防に移行し、あらゆる規模の組織がセキュリティとレジリエンスを強化できるよう支援します」

Splunk のプレジデント兼 CEO のゲイリー・スティール氏は次のように述べています。「シスコと 1 つになることで、Splunk は成長の新たなフェーズに入り、世界中の組織のレジリエンスを強化しつつ、株主には速やかで説得力のある価値を提供するという当社のミッションを推進してまいります」

スティール氏は続けて、「両社が協力しセキュリティおよびオブザーバビリティの分野で世界を牽引し、データと AI の力を活用して、お客様が優れた成果を達成できるよう支援し、業界を刷新していきます。革新、そして世界最高水準の顧客体験に対する情熱を共有する信頼できる長年のパートナーと協力できることを非常に嬉しく思います。パーパスドリブンな企業として尊敬を受ける 2 社が 1 つになることで Splunk の社員はこれまで以上の機会を得ることができると期待しています」と述べました。

現在のハイパーコネクテッドな世界において、データはあらゆるところに存在し、あらゆる組織がデータに基づき事業を遂行し、日々のミッションクリティカルな判断を行っています。生成系 AI の加速化と普及、攻撃対象領域の拡大、複数のクラウド環境の存在といった側面から、組織がこれまでに直面したことのないような水準の複雑さが生じています。組織がデータを管理、保護し、その真の価値を解き放ち、デジタルレジリエンスを確保するためのよりよい手立てが求められています。

シスコと Splunk はこのような課題に真摯に取り組みます。

実績あるトップ企業2 社が AI、セキュリティ、オブザーバビリティの力を補完し合うことで、データの真の価値を解き放ち、あらゆる規模の組織のセキュリティとデジタルレジリエンスの強化を支援します。

具体的には、Splunk のセキュリティソリューションによりシスコの既存ポートフォリオを補完し、両社で業界屈指のセキュリティアナリティクスを提供し、デバイスからアプリケーション、クラウドまで網羅的にカバーします。

シスコと Splunk が力を補完し合うことで、ハイブリッド環境、マルチクラウド環境におけるオブザーバビリティを提供し、デジタル事業を支えるスムーズなアプリケーション体験をお客様が実現できるようにします。シスコと Splunk は、規模、データを見通す力、信頼の基盤を活かし、お客様が責任ある形で AI の力を活用できるよう支援できる態勢にあります。

2 社が 1 つになることで、あらゆる規模のお客様のニーズに対応する新たなソリューションへの投資拡大、イノベーションの推進、グローバル展開の拡大が可能となります。

シスコによる Splunk の買収の根底には、同じような価値観、強力な社風、非常に優れた人材を有するパーパスドリブンな組織としての両社の評価も存在します。この買収により、イノベーションやインクルージョンに対する情熱を共有する 2 つの「Great Place to Work（働きがいのある会社）」が統合され、今後も働きがいのある会社、ソフトウェア人材にとっての優れた職場として存続します。

取引内容

契約条件に基づき、シスコは Splunk を 1 株あたり 157 ドル（株式価値約 280 億ドル）の現金で買収する意向です。この取引では、キャッシュフローはプラスとなり、取引完了後、初年度の売上総利益の増加、2 年目の非 GAAP EPS の増加を見込んでいます。また、シスコの収益の増加、売上総利益の拡大を加速します。

この取引により、シスコがこれまでに発表している自社株買いプログラムや配当プログラムの変更はありません。

この買収はシスコと Splunk 両社の取締役会で全会一致で承認されました。今回の買収は、規制当局の承認のほか、Splunk の株主による承認など慣習的な取引完了条件に従い、2024 年（暦年）第 3 四半期末までに完了する見通しです。

最終契約のすべての条件について詳しくは、この取引に関連して提出するシスコの最新の報告書（Form 8-K）をご参照ください。

アドバイザー

シスコ側は、Tidal Partners LLC が財務アドバイザー、Simpson Thacher & Bartlett LLP が法律顧問、Cravath, Swaine & Moore LLP が規制顧問を務めています。Splunk 側は、Qatalyst Partners and Morgan Stanley & Co. LLC が財務アドバイザー、Skadden, Arps, Slate, Meagher & Flom LLP が法律顧問を務めています。

関連資料

• シスコのブログ＜英語＞

Ciscoについて

シスコ (NASDAQ: CSCO) は、あらゆるものを安全につなぎ、あらゆることを可能にする世界的なテクノロジーリーダーです。お客様がアプリケーションを再構築し、ハイブリッドワークを強化し、企業のセキュリティを確保し、インフラを変革し、持続可能な目標を達成できるよう支援することで、すべての人にとって包括的な未来を実現することを目指しています。詳細については、ニュースルームおよびTwitter (@Cisco) をご覧ください。CiscoおよびCiscoロゴは、米国およびその他の国におけるシスコおよび/またはその関連会社の商標または登録商標です。シスコの商標一覧は、www.Cisco.com/go/trademarksよりご確認いただけます。掲載されている第三者の商標は、それぞれの所有者に帰属します。パートナーという用語の使用は、Ciscoと他社との間のパートナーシップ関係を意味するものではありません。

Splunkについて

Splunk Inc. (NASDAQ:SPLK) が目指すのは、より安全でレジリエントなデジタル世界を作ることです。Splunkのソリューションを導入すれば、セキュリティ、インフラ、アプリケーションの問題が大規模なインシデントに発展する前に防止して、影響を最小限に抑え、デジタルトランスフォーメーションを加速できるため、Splunkは多くの組織から信頼されています。

Cisco Forward-Looking Statements

This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” “strives,” “goal,” “intends,” “may,” “endeavors,” “continues,” “projects,” “seeks,” or “targets,” or the negative of these terms or other comparable terminology, as well as similar expressions) should be considered to be forward-looking statements, although not all forward-looking statements contain these identifying words. Readers should not place undue reliance on these forward-looking statements, as these statements are the management’s beliefs and assumptions, many of which, by their nature, are inherently uncertain, and outside of the management’s control.  Forward-looking statements may include statements regarding the expected benefits to Cisco, Splunk and their respective customers from completing the transaction, the integration of Splunk’s and Cisco’s complementary capabilities to create an end-to-end platform designed to unlock greater digital resilience for customers, plans for future investment and capital allocation, the expected financial performance of Cisco following the expected completion of the transaction, and the expected completion of the transaction. Statements regarding future events are based on the parties’ current expectations, estimates and projections and are necessarily subject to associated risks related to, among other things, (i) the completion of the proposed transaction on anticipated terms and timing, including obtaining stockholder and regulatory approvals and other conditions to the completion of the transaction, (ii) the effect of the announcement or pendency of the proposed transaction on Splunk’s business, operating results, and relationships with customers, suppliers, competitors and others, (iii) risks that the proposed transaction may disrupt Splunk’s current plans and business operations, (iv) risks related to the diverting of management’s attention from Splunk’s ongoing business operations, (v) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement, (vi) the outcome of any legal proceedings related to the transaction, (vii) the potential effects on the accounting of the proposed transaction, (viii) legislative, regulatory and economic developments, (ix) general economic conditions, (x) restrictions during the pendency of the proposed transaction that may impact Splunk’s ability to pursue certain business opportunities or strategic transactions, (xi) the retention of key personnel and (xii) the ability of Cisco to successfully integrate Splunk’s market opportunities, technology, personnel and operations and to achieve expected benefits. Therefore, actual results may differ materially and adversely from the anticipated results or outcomes indicated in any forward-looking statements. For information regarding other related risks, see the “Risk Factors” section of Cisco’s most recent report on Form 10-K filed on September 7, 2023, as well as the “Risk Factors” section of Splunk’s most recent reports on Form 10-Q and Form 10-K filed with the SEC on August 24, 2023, and March 23, 2023, respectively. The parties undertake no obligation to revise or update any forward-looking statements for any reason, except as required by law.

Splunk Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including 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 based on Splunk’s current expectations, estimates and projections about the expected date of closing of the proposed transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by Splunk and Cisco, all of which are subject to change. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “expect,” “target,” similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control, and are not guarantees of future results, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. These and other forward-looking statements, including the failure to consummate the proposed transaction or to make or take any filing or other action required to consummate the transaction on a timely matter or at all, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (i) the completion of the proposed transaction on anticipated terms and timing, including obtaining shareholder and regulatory approvals, anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of Splunk’s business and other conditions to the completion of the transaction; (ii) the impact of the COVID-19 pandemic on Splunk’s business and general economic conditions; (iii) Splunk’s ability to implement its business strategy; (iv) significant transaction costs associated with the proposed transaction; (v) potential litigation relating to the proposed transaction; (vi) the risk that disruptions from the proposed transaction will harm Splunk’s business, including current plans and operations; (vii) the ability of Splunk to retain and hire key personnel; (viii) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; (ix) legislative, regulatory and economic developments affecting Splunk’s business; (x) general economic and market developments and conditions; (xi) the evolving legal, regulatory and tax regimes under which Splunk operates; (xii) potential business uncertainty, including changes to existing business relationships, during the pendency of the merger that could affect Splunk’s financial performance; (xiii) restrictions during the pendency of the proposed transaction that may impact Splunk’s ability to pursue certain business opportunities or strategic transactions; and (xiv) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as Splunk’s response to any of the aforementioned factors. These risks, as well as other risks associated with the proposed transaction, are more fully discussed in the proxy statement to be filed with the U.S. Securities and Exchange Commission in connection with the proposed transaction. While the list of factors presented here is, and the list of factors presented in the proxy statement will be, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Splunk’s financial condition, results of operations, or liquidity. Splunk does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

Non-GAAP Information

This press release includes future estimated non-GAAP EPS information. Non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles (GAAP) and may be different from non-GAAP measures used by other companies. In addition, non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Cisco believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Cisco’s results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Cisco’s results of operations in conjunction with the corresponding GAAP measures. Cisco believes that the presentation of non-GAAP measures provides useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations. We have not reconciled future estimated non-GAAP EPS information included in this presentation to the most directly comparable GAAP measure because this cannot be done without unreasonable effort because we do not currently have sufficient data to accurately estimate the individual adjustments included in the most directly comparable GAAP measure that would be necessary for such reconciliations. We expect the variability of these items to have a potentially unpredictable, and a potentially significant, impact on our future GAAP financial results.

Additional Information and Where to Find It

In connection with the proposed transaction and required stockholder approval, Splunk will file with the SEC a preliminary proxy statement and a definitive proxy statement. The proxy statement will be mailed to the stockholders of Splunk. Splunk’s stockholders are urged to carefully read the proxy statement (including all amendments, supplements and any documents incorporated by reference therein) and other relevant materials filed or to be filed with the SEC and in their entirety when they become available because they will contain important information about the proposed transaction and the parties to the transaction. Investors may obtain free copies of these documents (when they are available) and other documents filed with the SEC at its website at www.sec.gov. In addition, investors may obtain free copies of the documents filed with the SEC by Splunk by going to Splunk’s Investor Relations page on its corporate website at https://investors.splunk.com or by contacting Splunk Investor Relations at ir@splunk.com.

Participants in the Solicitation

Splunk and its executive officers and directors may be deemed to be participants in the solicitation of proxies from Splunk’s stockholders with respect to the transaction. Information about Splunk’s directors and executive officers, including their ownership of Splunk securities, is set forth in the proxy statement for Splunk’s 2023 Annual Meeting of Stockholders, which was filed with the SEC on May 9, 2023, Form 8- K filed with the SEC on September 21, 2023, and Splunk’s other filings with the SEC. Investors may obtain more detailed information regarding the direct and indirect interests of Splunk and its respective executive officers and directors in the transaction, which may be different than those of Splunk stockholders generally, by reading the preliminary and definitive proxy statements regarding the transaction, which will be filed with the SEC. In addition, Cisco and its executive officers and directors may be deemed to have participated in the solicitation of proxies from Splunk’s stockholders in favor of the approval of the transaction. Information concerning Cisco’s directors and executive officers is set forth in Cisco’s proxy statement for its 2022 Annual Meeting of Stockholders, which was filed with the SEC on October 18, 2022, annual report on Form 10-K filed with the SEC on September 7, 2023, Forms 8-K filed with the SEC on February 21, 2023, July 19, 2023, and September 21, 2023, and Cisco’s other filings with the SEC. These documents are available free of charge at the SEC’s website at www.sec.gov or by going to Cisco’s Investor Relations website at https://investor.cisco.com.