Private-equity firm Hellman & Friedman LLC has taken a 7.5% stake in Splunk Inc. worth about $1.4 billion, according to people familiar with the matter, a big bet on the software company and its incoming chief executive.
Hellman & Friedman started buying the stake in mid-late December after Splunk shares plunged when the company’s former CEO resigned following several quarters of disappointing results. The stake would make Hellman & Friedman the largest active shareholder of Splunk, which has a market value of nearly $20 billion.
