BRUSSELS, March 5 (Reuters) - Cisco Systems (CSCO.O) , opens new tab is set to secure unconditional EU antitrust approval for its $28 billion bid for cybersecurity firm Splunk (SPLK.O) , opens new tab, two people with direct knowledge of the matter said on Tuesday.

The deal announced last year and Cisco's biggest ever will boost its software business amid a boom in artificial intelligence and also help offset a post-pandemic slowdown in demand.

The European Commission is set to clear the deal after its preliminary review ends on March 13 after finding no anti-competitive issues, the people said.

The EU competition enforcer declined to comment. Cisco and Splunk did not immediately respond to requests for comment.

Last month, San Francisco, California-based Splunk said it expects the deal to close towards the end of the current quarter or early in the second quarter of 2024.

https://www.reuters.com/markets/deals/ciscos-splunk-deal-set-win-unconditional-eu-antitrust-ok-sources-say-2024-03-05/