The Wall Street Journal reported on Friday that network equipment maker Cisco Systems Inc (CSCO.O) has made a takeover bid for software maker Splunk Inc (SPLK.O) valued at more than $20 billion, citing people familiar with the situation.
According to the publication, which cited some sources, the offer was made lately, and the firms are not in active talks.
Cisco did not respond to a request for comment right away. Splunk has stated that it does not respond to rumors or speculation.
Splunk, based in San Francisco, said in November last year that Doug Merritt had stepped down as CEO and that the company’s chair, Graham Smith, would serve as temporary CEO.
According to Refinitiv Eikon data, the software solutions firm has a market capitalization of $18.2 billion.
