Gigamon announced the completion of a significant strategic investment from Siris, a 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. will maintain its controlling interest in the Company.

Shane Buckley, President and CEO of Gigamon, said: “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.