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Networking major Cisco on Monday announced it has completed the acquisition of Splunk, the leader in cybersecurity and observability, for about $28 billion in the generative AI era.

The acquisition sets the foundation for delivering unparalleled visibility and insights across an organisation's entire digital footprint, the company said in a statement.

"We are thrilled to officially welcome Splunk to Cisco," said Chuck Robbins, Chair and CEO of Cisco.

"As one of the world's largest software companies, we will revolutionize the way our customers leverage data to connect and protect every aspect of their organization as we help power and protect the AI revolution,” he added.

Cisco will bring the full power of the network together with market-leading security and observability solutions, to deliver a real-time unified view of the entire digital landscape, helping teams proactively defend critical infrastructure, prevent outages, and refine the network experience.

"Uniting Splunk and Cisco will bring tremendous value to our joint customers worldwide," said Gary Steele, Executive Vice President, General Manager, Splunk.

Cisco and Splunk are two leaders with complementary capabilities across AI, security, and observability.

"Accenture congratulates Cisco on the acquisition of Splunk," said Julie Sweet, Chair and CEO, Accenture. "We have enjoyed long-term partnerships with both companies and look forward to the opportunities this collaboration presents to our clients in the future."