Splunk To Acquire Cloud Security Provider TruSTAR For Undisclosed Terms

Splunk Inc SPLK inked an agreement to acquire San Francisco’s cloud-native security company TruSTAR.
The financial terms of the transaction were not disclosed.
TruSTAR’s cloud-native solution centralizes threat data from a wide array of sources for seamless integration into Security Analytics and SOAR workflows for more autonomous, higher efficacy security operations, Splunk SVP Sendur Sellakumar said.
The combination of TruSTAR with Splunk’s leading enterprise data platform will bring security, and IT teams to a new level of integration, automation, and resilience, TruSTAR CEO Patrick Coughlin said.
Splunk held $1.8 billion in cash and equivalents as of Jan. 31, 2021.
Jefferies has maintained a ‘Buy’ on Splunk but has lowered its price target to $175.
Price action: SPLK shares traded higher by 0.12% at $114.51 on the last check Tuesday.