Gigamon Announces Significant Strategic Investment from Siris
New investment underpins Gigamon’s 20-year commitment to innovation and developing market-leading network visibility and deep observability solutions
Santa Clara, Calif., Feb. 22, 2024 — Gigamon (“Gigamon” or the “Company”), a leading deep observability company that helps organizations to effectively secure and manage hybrid cloud infrastructure, today announced the completion of a significant strategic investment from Siris (together with its affiliates, “Siris”), a leading 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. (“Elliott”) will maintain its controlling interest in the Company.
Founded in 2004, Gigamon protects the world’s largest, most complex, and most secure organizations, serving more than 4,000 customers globally. Gigamon has been a long-standing leader in the network performance management market and is an early leader in deep observability solutions that help organizations secure and manage on-premises, virtual, container, and cloud infrastructure across complex networks with greater ease, efficiency, and effectiveness. Gigamon protects customers of all sizes, spanning the world’s top mobile network operators, healthcare providers, global banks, top U.S. federal agencies, and more than 80 Fortune 100 companies.
“Over the past two years, we have established Gigamon as a leading deep observability company, and we see substantial growth opportunities ahead for us,” said Shane Buckley, president and chief executive officer of Gigamon. “Siris is an experienced technology investment firm, and we look forward to fully leveraging the team’s deep industry and operational expertise to propel the many exciting growth opportunities in front of us.
“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.
About Siris
Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services facing industry changes or other significant transitions. Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners and Advisors are integral to its approach. Siris’ Executive Partners and Advisors are experienced senior operating executives who actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York and West Palm Beach and manages approximately $7 billion in assets under management as of September 30, 2023, across three institutional funds. www.siris.com.
About Gigamon
Gigamon® offers a deep observability pipeline that efficiently delivers network-derived intelligence to cloud, security, and observability tools. This helps eliminate security blind spots and reduce tool costs, enabling you to better secure and manage your hybrid cloud infrastructure. Gigamon serves more than 4,000 customers worldwide, including over 80 percent of Fortune 100 enterprises, 9 of the 10 largest mobile network providers, and hundreds of governments and educational organizations worldwide. To learn more, please visit www.gigamon.com.
Gigamon Media Contact:
public.relations@gigamon.com
Siris Media Contact:
Dana Gorman / Blair Hennessy
H/Advisors Abernathy
dana.gorman@h-advisors.global
blair.hennessy@h-advisors.global