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Gigamon owners explore sale that could value software firm above $2 billion
Elliott Investment Management and Siris have enlisted advisers, but discussions over a potential transaction remain preliminary.
A potential sale of Gigamon is being examined by Elliott Investment Management and Siris, with a valuation that could exceed $2 billion, people with knowledge of the discussions said.
The people put Gigamon’s annual recurring revenue at more than $400 million and its EBITDA at around $170 million. Elliott took Gigamon private in 2017 through a deal valuing it at about $1.6 billion; Siris purchased a minority interest in 2024.
Bank of America and Perella Weinberg Partners have been engaged to advise Gigamon. The process remains preliminary, said the people, who asked not to be identified because the talks are confidential.
Private equity investors and corporate acquirers could be interested, the people said, particularly buyers looking to add capabilities for monitoring networks, managing cloud infrastructure and cybersecurity.
Gigamon is based in Santa Clara, California, and makes software used to track network traffic and identify security threats. Its website lists more than 4,000 customers worldwide, spanning banking, healthcare and government, and says the company was established in 2004.
Gigamon and its investors, Elliott and Siris, declined to comment, as did Bank of America. A request for comment received no response from Perella Weinberg.