Cisco Introduces New AI Security System Following $28 Billion Acquisition of Splunk

By Trisha Andrada

Apr 18, 2024 05:31 AM EDT

Cisco Completes $28 Billion Acquisition of Splunk Without Being Blocked by Antitrust Regulators
Networking giant Cisco has announced the $28 billion acquisition of digital infrastructure firm Splunk.
(Photo : David Ramos / Getty Images)

Cisco, a digital technology corporation based in California, introduced a new security architecture solution that uses artificial intelligence (AI). This follows the company's $28 billion acquisition of cybersecurity firm Splunk.

Hypershield: Innovative AI-Powered Security Solution

The new system, Hypershield, employs AI to safeguard data, apps, and devices in many settings, including clouds, public and private data centers, and physical locations.

In an era when digital behemoths like Amazon, Google, and Microsoft are pouring billions into AI research and development, Cisco has an opportunity to establish itself as a major player in the field.

"This is not a product, but a new architecture - the first version of something new," Jeetu Patel told CNBC in an interview. Patel is Cisco's senior vice president and general manager of security and collaboration.

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Cisco Strengthens Cybersecurity Business

Cisco has long been a global leader in computer networking hardware, such as switches, modems, and routers. To keep up with client needs and drive development, it has been enhancing its cybersecurity business, which led to the company's purchase of Splunk.

With Splunk's technology, Cisco may offer businesses services to monitor and analyze their data, reduce the risk of hackers, and allow them to handle technical difficulties quickly.

Due to the public cloud eating into Cisco's conventional back-end business, the corporation is looking for new and greater ways to make money, and cybersecurity is a good opportunity.

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