New York, Jan 5, 2026, 15:19 EST — Regular session
- Cisco shares slipped 0.3% in afternoon trade, after swinging between a 1% gain and a 1% loss.
- Israel’s Calcalist reported Cisco is in advanced talks to buy cyber asset management firm Axonius for about $2 billion; Axonius denied discussions. 1
- Investors are watching for follow-up disclosures and Friday’s U.S. jobs report, a key driver for rate expectations and tech valuations. 2
Cisco Systems Inc (CSCO.O) shares edged lower on Monday after an Israeli tech outlet reported the networking company is in talks to buy cybersecurity firm Axonius for about $2 billion, a deal Axonius publicly denied. 1
The report matters now because Cisco has been leaning harder into security and software to broaden growth beyond hardware, and asset visibility is a rising priority for large companies managing sprawling fleets of devices and cloud applications. A purchase would also keep attention on how Cisco deploys cash as dealmaking returns to parts of the tech sector. 1
The stock reaction was muted, but investors are balancing deal speculation with a market that has turned sensitive to interest-rate expectations and economic data early in the year. U.S. stocks rallied broadly on Monday, while traders looked ahead to a packed week of data, including Friday’s Employment Situation report. 3
Calcalist said Cisco was in advanced negotiations to acquire Axonius for $2 billion, noting Axonius was previously valued at $2.6 billion. Axonius responded: “Axonius is not in talks to be acquired by Cisco,” the outlet reported. 1
Even with the denial, Zeus Kerravala, principal analyst at ZK Research, told CX Today: “Generally when there is smoke there is fire.” He added that a $2 billion price “would be a bit of a surprise” given Axonius’s last valuation, according to the report. 4
Axonius markets an asset catalog that helps companies identify what is connected to their networks and whether it is protected — a problem that grows as firms add cloud software and connected devices outside traditional IT control. Calcalist said Axonius integrates with more than 300 security and management tools. 1
For Cisco, any deal would land as it pushes further into security and recurring software revenue, an approach it highlighted after its $28 billion acquisition of Splunk, completed in March 2024. Cisco last raised its annual revenue and profit forecast in November, citing demand tied to data center buildouts and AI-related networking orders. 5
Cisco shares were last down about 0.3% at $75.80 after earlier rising nearly 1% and later falling about 1% on the day. The S&P 500 and Nasdaq were up about 0.7% and 0.9% in late afternoon trading, respectively, after the Dow hit a record high. 3
But the path is not clean. If the Axonius talks do not materialize — or if valuations reset lower in security software — deal chatter can fade quickly, leaving investors focused on Cisco’s own growth and margins. A weaker economy would also test enterprise spending, with U.S. manufacturing activity slipping further into contraction at the end of 2025, according to ISM. 6
Traders will watch for any comment from Cisco or formal disclosure that clarifies whether a transaction is under discussion. A key near-term macro catalyst is Friday’s U.S. Employment Situation report for December 2025, due at 8:30 a.m. ET, which could move rate expectations and tech multiples ahead of the next earnings cycle. 2
