Going once, going twice, sold! Last Friday, tech conglomerate Cisco (CSCO) made a $20b+ takeover offer for data analytics software company Splunk (SPLK). While the offer was made recently, the two companies are not involved in active talks.

Splunk was founded in 2003. The company is based out of San Francisco but has customers and operations all over the world. Splunk offers software that helps its customers capture, index, and correlate data in a searchable repository from which graphs, reports, and visualizations can be made.

Splunk is currently searching for a new CEO after Doug Merritt resigned from the role last November after a series of disappointing earnings reports. Shares of Splunk rose sharply in the early days of the pandemic but have since nearly fallen in half. However, shares were up by 11.3% in after-hours trading on Friday after news of the potential buyout from Cisco was released.