Silver Lake Partners, a private equity firm, agreed to invest $1bn in Splunk, a developer of web-based application software. “We’ve significantly evolved our business since we began our transformation to become a cloud-first company over two years ago, and today’s announcement reaffirms the strength of our business fundamentals, cloud strategy and high-growth trajectory. Silver Lake has a strong reputation and track record of investing in innovative technology companies, and with their support, we are accelerating toward our goals as we deliver the most scalable and powerful data platform in the cloud," Doug Merritt, Splunk President and CEO.