Private equity firm Hellman & Friedman has taken a 7.5% stake in software maker Splunk worth about $1.45bn, according to a regulatory filing on Friday.
Shares of Splunk, which has a market value of nearly $20bn, rose 1% in pre-market trading.
The company on Wednesday named former Proofpoint top boss Gary Steele as its chief executive officer. Its previous CEO Doug Merritt stepped down in November, just days before the company’s third-quarter results.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Splunk had received a takeover offer worth more than $20 billion from Cisco Systems Inc, The Wall Street Journal reported earlier this month.
The Journal first reported the news of the stake earlier on Friday.
Source: Reuters
Can’t stop reading? Read more
Eldridge and Arctos unveil retail vehicle giving investors a stake in elite sports and media
Eldridge and Arctos unveil retail vehicle giving investors a stake in elite sports and media...
Blue Owl raises $1.7bn for digital infrastructure trust as data centre demand accelerates
Blue Owl raises $1.7bn for digital infrastructure trust as data centre demand accelerates Blue Owl...
Lone Star nears $4.5bn exit as ITT advances talks to buy SPX Flow
Lone Star nears $4.5bn exit as ITT advances talks to buy SPX Flow ITT is in advanced negotiations...