EU regulators set deadline of March 13 to decide on Cisco's $28 billion Splunk deal
As per the European Commission filing, the antitrust regulators of the EU have established a deadline of March 13 to decide whether to clear Cisco Systems' $28 billion bid for cybersecurity firm Splunk.
The deal will decrease Cisco’s dependency on its networking equipment business, which has faced issues in supply chain and slowing demand in the post pandemic period.
The EU competition watchdog can clear the deal with or without remedies after its preliminary review or it can open a full-scale investigation as the next step if it has serious concerns.
The regulators are concerned that the large players are strengthening their market power at the expense of smaller or new rivals and hence have taken a tough line on tech mergers.
San Jose, California-based Cisco already has a data-security partnership with Splunk, which counts Coca-Cola, Intel and Porsche among its more than 15,000 customers.
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