As of Dec. 27, network visibility vendor Gigamon is no longer a publicly traded company.
Private equity firm Elliot Management announced on Dec. 27 that it has closed its acquisition of Gigamon that was first announced on Oct. 26. The $1.6 billion deal paid $38.50 for each Gigamon (NYSE:GIMO) share.
"As a private company, we will continue to build upon our leading technology foundation and transform the market we created and lead," Paul Hooper, CEO of Gigamon, stated. "With our Security Delivery Platform, we are in a unique position to enable NetOps and SecOps teams to work together addressing the common goal of securing their enterprise while containing costs and minimizing complexity."
Gigamon's core offerings including the company's visibility platform, which also extends into AWS for public cloud monitoring. The company's GigaSMART traffic intelligence portfolio includes application session filtering and SSL/TLS decryption capabilities.
On Dec 5, Gigamon announced the latest update to its GigaSECURE Security Delivery platform, which extends SSL/TLS decryption to 100 Gigabit network interfaces.
"Many security and monitoring tools become overloaded in 100Gb network environments, so it’s clear a new approach is needed," Ananda Rajagopal, vice president of products for Gigamon, stated. "Our new solution enables enterprises to stop the sprawl by redeploying security tools from the edge of their network to the core, where it’s easier to spot lateral attacks and more quickly identify threats."
Overall, 2017 has been a solid year of growth and recognition for Gigamon. In the IHS Markit Network Monitoring Equity 2017 Annual Market report, Gigamon was identified as a market share leader. According to the report, Gigamon accounts for 36 percent of total industry revenue in the network monitoring equipment market.
"As the leading provider of visibility solutions that enable enterprises to guard against network and data breaches, Gigamon has a strong track record of innovation and delivering customer value that makes it a compelling investment," Jesse Cohn, partner at Elliott Management, stated. "In partnership with Evergreen Coast Capital, our private equity affiliate, this is a landmark transaction in our long history of investing in leading enterprise technology businesses.
Sean Michael Kerner is a senior editor at EnterpriseNetworkingPlanet and InternetNews.com. Follow him on Twitter @TechJournalist.