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5 Things To Know About Silver Lake’s $1B Investment In Splunk

Splunk disclosed Tuesday that private equity investment company Silver Lake is making a $1 billion investment in the data management software developer. Here are five things to know about the deal.

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A Hit From The Pandemic

Splunk, which has enjoyed robust growth in recent years, has reported slower sales amid the economic chaos of the COVID-19 pandemic. In the company’s fiscal 2021 ended Jan. 31, 2021, revenue declined 5.5 percent to $2.23 billion from $2.36 billion in fiscal 2020.

“Any executive anywhere that says the pandemic hasn’t affected them is either delusional or not truthful,” CEO Merritt was quoted in a November 2020 Forbes article about the impact of the COVID-19 pandemic.

The impact of the pandemic was most pronounced later in the company’s fiscal 2021. Revenue declined 5 percent in the fiscal second quarter ended July 31, 202), 11 percent in the fiscal third quarter 2020 ended Oct. 31, 2020, and 6 percent in the fourth fiscal quarter ended Jan. 31, 2021.

In the company’s recently reported fiscal 2022 first quarter ended April 30, revenue grew 16 percent year over year to $502 million.

The San Francisco-based company has also been transitioning from a perpetual license sales model to a subscription sales model for its software.

 
 
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