Key Takeaways
- • Elliott Investment Management and Siris Capital are weighing a sale of network infrastructure software provider Gigamon at a valuation of more than $2bn, according to Reuters citing unnamed sources.
- • Bank of America and Perella Weinberg Partners have been appointed as advisers, and the potential transaction remains at an early stage and confidential.
- • Gigamon generates more than $400m in annual recurring revenue and approximately $170m in EBITDA, per the sources, and counts more than 4,000 customers worldwide.
- • A deal could attract both private equity firms and strategic buyers seeking exposure to network monitoring, cybersecurity and cloud infrastructure management.
- • Elliott took Gigamon private in 2017 at a valuation of roughly $1.6bn, and Siris acquired a minority stake in 2024, implying a potential exit well above the prior take-private price.
Summary
Activist investor Elliott Investment Management and Siris Capital are considering a sale of Gigamon, a network infrastructure software provider, in a transaction that could value the company at more than $2bn, according to a Reuters report citing unnamed people familiar with the matter. The discussions are at an early stage and confidential, and the sources said no transaction is assured.
Bank of America and Perella Weinberg Partners have been appointed to advise on a potential deal. The process could draw interest from private equity investors as well as strategic buyers seeking to strengthen their positions in network monitoring, cybersecurity and cloud infrastructure management.
Headquartered in Santa Clara, California, Gigamon was founded in 2004 and develops software that enables businesses to monitor network traffic and identify security threats. The company serves more than 4,000 customers worldwide, including financial institutions, healthcare organisations and government agencies. According to the sources, the business generates more than $400m in annual recurring revenue and approximately $170m in EBITDA.
Elliott, Siris, Gigamon and Bank of America declined to comment, and Perella Weinberg Partners did not respond to a request for comment. The company's ownership history frames the potential sale. Elliott took Gigamon private in 2017 in a transaction that valued the company at roughly $1.6bn, and Siris subsequently acquired a minority stake in 2024.
Bank of America and Perella Weinberg Partners have been appointed to advise on a potential deal. The process could draw interest from private equity investors as well as strategic buyers seeking to strengthen their positions in network monitoring, cybersecurity and cloud infrastructure management.
Headquartered in Santa Clara, California, Gigamon was founded in 2004 and develops software that enables businesses to monitor network traffic and identify security threats. The company serves more than 4,000 customers worldwide, including financial institutions, healthcare organisations and government agencies. According to the sources, the business generates more than $400m in annual recurring revenue and approximately $170m in EBITDA.
Elliott, Siris, Gigamon and Bank of America declined to comment, and Perella Weinberg Partners did not respond to a request for comment. The company's ownership history frames the potential sale. Elliott took Gigamon private in 2017 in a transaction that valued the company at roughly $1.6bn, and Siris subsequently acquired a minority stake in 2024.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.