Gigamon is For Sale

Gigamon makes software that is installed in large data centers to boost the flow of traffic

Elliott Management owns 15% of shares and has encouraged firm to sell

 

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After activist investor Elliott Associates recently reported a roughly 15% economic exposure in shares of #Gigamon $GIMO and encouraged the company to undertake a strategic review process, the software maker has begun working with Goldman Sachs $GS to talk with companies and private equity firms interested in acquiring it, according to Reuters.

Gigamon Inc. develops and delivers solution that delivers visibility and control of data-in-motion traversing enterprise, federal, and service provider networks in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers traffic intelligence applications that provide controls for traffic selection, forwarding, manipulation, modification, de-duplication, SSL decryption, correlation, sampling, and generation of flow records.

Gigamon could attract interest from Hewlett Packard Enterprise (HPE), F5 Networks (FFIV) and PE firm Thoma Bravo, which previously bought Riverbed Technology, according to the report.

Needham analyst Alex Henderson estimated that a fair value for Gigamon is in the $50-$55 range.

Elliott has succeeded in pushing many technology companies to sell themselves in recent years, including Mentor Graphics, LifeLock Inc and Qlik Technologies.

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The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

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