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Cisco Systems, Inc.

Networking Equipment & Enterprise SoftwareFounded 1984
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Cisco Acquisitions

7

Major Deals Covered

$37.6B

Disclosed Deal Value

What are Cisco's biggest acquisitions?

Cisco's largest disclosed acquisition here is Splunk for $28B in 2024. This page covers 7 major deals from 1996 to 2024, each with its price where disclosed and the reason behind it.

Major deals covered
7
Largest deal
Splunk ($28B)
First deal
1996
Most recent
2024
CompanyYearPricePurpose
Splunk2024$28.0BCisco's largest-ever acquisition, designed to combine networking data with Splunk's security and observability platform to create an unified AI-driven security and monitoring solution.
AppDynamics2017$3.7BAcquired the application performance monitoring leader to extend Cisco's visibility from network infrastructure into application-layer performance, enabling full-stack observability.
Meraki2012$1.2BAcquired the cloud-managed networking pioneer to bring simplified, subscription-based network management to small and mid-sized businesses a market Cisco's complex CLI-based products struggled to serve.
StrataCom1996$4.7BAcquired to enter the ATM and Frame Relay switching market during the telecom boom, giving Cisco products for service provider wide-area networks.
Sourcefire2013UndisclosedCisco Systems, Inc. acquired Sourcefire in 2013.
Linksys2003UndisclosedCisco Systems, Inc. acquired Linksys in 2003.
Starent Networks2009UndisclosedCisco Systems, Inc. acquired Starent Networks in 2009.
What companies has Cisco bought?
Major acquisitions by Cisco documented here include Splunk (2024), StrataCom (1996), AppDynamics (2017), Meraki (2012) and Sourcefire (2013).
What is Cisco's most recent acquisition?
The most recent Cisco acquisition documented here is Splunk, in 2024, for $28B.

Splunk

2024

$28.0B

Why

Cisco's largest-ever acquisition, designed to combine networking data with Splunk's security and observability platform to create an unified AI-driven security and monitoring solution.

Impact

Added approximately $3.7 billion in annual revenue and positioned Cisco as a leader in both network infrastructure and the data analytics layer that monitors it. Accelerated Cisco's software and recurring revenue transition.

Outcome

Integration ongoing. Expected to be accretive to earnings by FY2026 and significantly boost Cisco's recurring software revenue percentage.

Source →

AppDynamics

2017

$3.7B

Why

Acquired the application performance monitoring leader to extend Cisco's visibility from network infrastructure into application-layer performance, enabling full-stack observability.

Impact

Gave Cisco a foothold in the fast-growing APM market and provided application-level insights that complemented its network monitoring capabilities.

Outcome

Became a cornerstone of Cisco's observability strategy, though faced intense competition from Datadog and Dynatrace.

Source →

Sourcefire

2013

Why

Cisco Systems, Inc. acquired Sourcefire in 2013.

Source →

Meraki

2012

$1.2B

Why

Acquired the cloud-managed networking pioneer to bring simplified, subscription-based network management to small and mid-sized businesses a market Cisco's complex CLI-based products struggled to serve.

Impact

Meraki's cloud dashboard approach became a model for Cisco's broader shift toward software-managed infrastructure. The platform grew to manage millions of devices worldwide.

Outcome

Became one of Cisco's fastest-growing product lines and a key driver of its recurring revenue transition.

Source →

Starent Networks

2009

Why

Cisco Systems, Inc. acquired Starent Networks in 2009.

Source →

Linksys

2003

Why

Cisco Systems, Inc. acquired Linksys in 2003.

Source →

StrataCom

1996

$4.7B

Why

Acquired to enter the ATM and Frame Relay switching market during the telecom boom, giving Cisco products for service provider wide-area networks.

Impact

Made Cisco a major player in telecom carrier infrastructure and contributed to the rapid revenue growth of the late 1990s.

Outcome

Helped Cisco become the world's most valuable company by 2000, though the telecom bust that followed exposed over-dependence on carrier spending.

Source →

Cisco Systems, Inc.'s Growth & Acquisition Strategy

Cisco's growth plan rests on three areas. First, AI infrastructure: Silicon One chips, Nexus and Cisco 8000 systems, and optics sold to hyperscalers and, increasingly, to neoclouds, sovereign AI projects, and enterprises building their own AI clusters. Second, campus and branch refresh, as enterprises upgrade switching and Wi-Fi for AI workloads. Third, security and observability, built around the $28 billion Splunk acquisition completed in March 2024 and Cisco's broader security cloud. Cisco funds this partly through restructuring, including about 4,000 job cuts announced in May 2026 to move spending toward AI.

How Cisco Systems, Inc. Makes Money

Cisco makes money in two ways: product sales and services. Products (switches, routers, wireless, Silicon One-based data center and AI networking gear, firewalls, Splunk and other security and observability software, and Webex) made up about $13.5 billion of the $17.3 billion Q4 FY2026 revenue, while services (technical support, advisory, and maintenance contracts) contributed about $3.8 billion. Hardware is increasingly sold with software subscriptions attached, so a growing share of revenue recurs. Most sales go through channel partners and resellers, and large cloud providers now buy Cisco AI networking equipment directly.

Cisco Acquisitions FAQ

What was Cisco's acquisition of Splunk in 2024 and how much did it cost?

In March 2024, Cisco completed the acquisition of cybersecurity and data observability pioneer Splunk Inc. for $28 billion in cash ($157 per share), the largest acquisition in Cisco's history, creating a global AI-driven security and data observability leader.

Why was the acquisition of Meraki in 2012 transformative for Cisco?

In December 2012, Cisco acquired cloud networking pioneer Meraki for $1.2 billion in cash, transforming Cisco's wireless and switching portfolio with simple cloud-managed hardware and high-margin recurring SaaS subscriptions.

What was the acquisition of AppDynamics in 2017?

In January 2017, Cisco acquired application performance monitoring leader AppDynamics for $3.7 billion in cash (just days before its planned IPO), establishing Cisco's leadership in enterprise full-stack software observability.

What was Cisco's acquisition of Duo Security in 2018?

In October 2018, Cisco acquired cloud-based multi-factor authentication (MFA) and zero-trust leader Duo Security for $2.35 billion in cash, making Duo the core identity foundation of the Cisco Security Cloud.

What was the acquisition of Acacia Communications in 2021?

In March 2021, Cisco acquired high-speed coherent optical interconnect chipmaker Acacia Communications for $4.5 billion, integrating pluggable coherent optics directly into Cisco routing and switching hardware.

What was the acquisition of ThousandEyes in 2020?

In August 2020, Cisco acquired digital experience and internet visibility monitoring platform ThousandEyes for approximately $1.0 billion, giving IT teams end-to-end telemetry across external clouds and the public internet.

What was the historic acquisition of Scientific Atlanta and Webex in the 2000s?

Cisco acquired set-top box and video infrastructure maker Scientific Atlanta for $6.9 billion in 2006 and acquired web conferencing pioneer Webex for $3.2 billion in 2007, establishing its collaboration division.

How does Cisco systematically integrate acquired technology companies?

Cisco is renowned as one of the tech industry's most successful serial acquirers (completing over 240 acquisitions), utilizing a standardized integration framework that retains engineering talent, unifies sales compensation, and integrates acquired products into Cisco's global catalog.

Did Cisco buy Splunk?

Yes, in 2024, Cisco completed a massive, company-altering $28 billion acquisition of the cybersecurity and data analytics giant Splunk, the largest acquisition in Cisco's history, to completely dominate AI-driven corporate security.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.