Splunk Leaps On $1B Silver Lake Investment, Share Buybacks

by thestreet.com posted 1month ago 6 views
Click to view a price quote on SPLK. : Splunk Inc  (SPLK) - Get Report shares jumped higher Tuesday after the data-focused cloud computing group unveiled a $1 billion investment from private equity group Silver Lake Partners. Splunk said the cash injection, which came from the sale of senior convertible notes to Silver Lake with a conversion price of $160.00 per share, will be used to help manage its capital structure and fund new investments and growth initiatives. Splunk also authorized the purchase of 1 billion worth of its common shares in the open market.

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