Benzinga | May 18, 2021 09:57AM EDT

Splunk To Acquire Cloud Security Provider TruSTAR For Undisclosed Terms

* Splunk Inc (NASDAQ: 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.