Cisco Systems, Inc. (NASDAQ: CSCO) transformed its security portfolio with the $28 billion acquisition of Splunk, which closed in March 2024. This was one of the largest cybersecurity acquisitions in history. Combined with Cisco’s existing network security, identity (Duo), and threat intelligence (Talos) capabilities, the company now offers one of the broadest security platforms in the industry.
Security Products
Splunk Enterprise Security is a leading SIEM platform with powerful search capabilities using SPL, along with dashboarding and correlation. In 2025, Cisco introduced a new workload-based pricing model alongside Splunk’s traditional per-GB pricing, addressing a long-standing customer concern about data ingestion costs. Splunk SOAR provides security orchestration and automated response.
Cisco XDR correlates telemetry from endpoints, network, email, and identity sources. Native integration with Splunk provides unified investigation workflows.
Cisco Talos is one of the largest commercial threat intelligence organizations, analyzing over 1.5 million malware samples daily and providing threat intelligence feeds, incident response services, and vulnerability research.
Cisco Duo, acquired earlier, provides multi-factor authentication and zero trust access for over 100 million users, including adaptive MFA, device trust verification, and SSO capabilities.
On the network side, next-generation firewalls through Secure Firewall, Umbrella for DNS-layer security and SWG, and Secure Access for SSE/SASE provide network-layer protection.
Financial Performance
Cisco’s total revenue reached $56.7 billion in FY2025. Security revenue doubled year-over-year in Q1 FY2025 to $2 billion per quarter with the inclusion of Splunk.
Market Position
The Splunk acquisition vaulted Cisco to the top tier of the SIEM market. Splunk has been named a Leader in the Gartner Magic Quadrant for SIEM for 11 consecutive years. Cisco is also a Leader in network firewalls.
Leadership
Chuck Robbins is Chairman and CEO. Tom Gillis serves as SVP and GM of Cisco Security. Gary Steele, the former Splunk CEO, now serves as President of Go-to-Market.