Gigamon announced the completion of a significant strategic investment from Siris, a private equity firm focused on investing and driving value creation in technology companies.
The Siris investment in Gigamon will provide the Company with additional resources to accelerate innovation and growth through organic initiatives and potential strategic market opportunities. Elliott Investment Management L.P. will maintain its controlling interest in the Company.
Shane Buckley, President and CEO of Gigamon, said: “Over the past seven years, Elliott has been a key partner in our product development initiatives, and now with Siris’ support, we will further bolster our brand presence and reputation as we scale our offerings and expand our geographic reach.”
“Shane and the talented Gigamon executive leadership team have built a remarkable company and culture focused on delivering industry-leading security and network observability solutions, and the Company is ideally positioned to help customers more efficiently secure and manage a multi-cloud and hybrid application infrastructure,” said John McCormack, an executive partner at Siris. “I look forward to working with the Gigamon team and its existing investors as the Company executes on identified strategic growth opportunities and expands its leadership in deep observability.”
“Siris’ significant investment in Gigamon reflects the strength of the Company’s innovative products and global customer base,” said John Borgerding, Gigamon chairman. “We are pleased to be partnering alongside our other investors as we continue to expand the Gigamon cloud business and deep observability offerings.”
“We have long been impressed by Gigamon’s market performance and are thrilled to be partnering with Gigamon and its existing shareholders to drive ongoing success,” said Frank Baker, a co-founder and managing partner of Siris, and Sandeep Guleria, a managing director at Siris. “Gigamon is not only an industry leader in the mission-critical network visibility market, but also is rapidly expanding its deep observability capabilities to maximize network security. We look forward to supporting Gigamon on these important initiatives.”
The transaction closed in December 2023, and financial terms were not disclosed.
The Latest
The edge brings computing resources and data storage closer to end users, which explains the rapid boom in edge computing, but it also generates a huge amount of data ... 44% of organizations are investing in edge IT to create new customer experiences and improve engagement. To achieve those goals, edge services observability should be a centerpoint of that investment ...
The growing adoption of efficiency-boosting technologies like artificial intelligence (AI) and machine learning (ML) helps counteract staffing shortages, rising labor costs, and talent gaps, while giving employees more time to focus on strategic projects. This trend is especially evident in the government contracting sector, where, according to Deltek's 2024 Clarity Report, 34% of GovCon leaders rank AI and ML in their top three technology investment priorities for 2024, above perennial focus areas like cybersecurity, data management and integration, business automation and cloud infrastructure ...
While IT leaders are preparing organizations for accelerated generative AI (GenAI) adoption, C-suite executives' confidence in their IT team's ability to deliver basic services is declining, according to a study conducted by the IBM Institute for Business Value ...
The consequences of outages have become a pressing issue as the largest IT outage in history continues to rock the world with severe ramifications ... According to the Catchpoint Internet Resilience Report, these types of disruptions, internet outages in particular, can have severe financial and reputational impacts and enterprises should strongly consider their resilience ...
Everyday AI and digital employee experience (DEX) are projected to reach mainstream adoption in less than two years according to the Gartner, Inc. Hype Cycle for Digital Workplace Applications, 2024 ...
When an IT issue is not handled correctly, not only is innovation stifled, but stakeholder trust can also be impacted (such as when there's an IT outage or slowdowns in performance). When you add new technology investments and innovations into the mix, you have a recipe for disaster ...
To get a better understanding of the top issues facing IT teams in financial services, Auvik recently released its 2024 Financial Services IT Trends Report ... Not surprisingly, the experience of FinServ IT teams is significantly impacted by the onslaught of cyberattacks facing financial services organizations as well as the complex regulatory environment of this industry ...
The CrowdStrike outage serves as a potent illustration of the risks associated with complex security environments. Enterprises are increasingly advised to consider simpler, more robust solutions that do not rely heavily on reactive security measures ...
When IT leaders started telling Enterprise Management Associates (EMA™) more than a year ago that their personnel were using premium ChatGPT subscriptions to create device configs and automation scripts, we knew the industry was on the verge of a revolution ...
The rapid rise of creative "right-brain" generative AI (GenAI) has opened the door to greater adoption of the more analytical "left-brain" AI decisioning solutions by global businesses, according to new research from Pegasystems ...