11:04 AM EDT, 03/18/2024 (MT Newswires) -- Cisco Systems ( CSCO ) said Monday it has completed the acquisition of software company Splunk for $157 per share in cash or about $28 billion in equity value.

The company said it expects the deal to be cash flow positive and non-GAAP gross margin accretive in its fiscal year 2025 and non-GAAP earnings per share accretive in fiscal 2026.

Splunk's shares ceased trading on Nasdaq before the opening of Monday trading, the company said.

Shares of Cisco ( CSCO ) were up 1.1% in recent trading.

Price: 49.45, Change: +0.51, Percent Change: +1.05