Wednesday, July 11, 2018

Gigamon appoints Buckley as COO and Arkley as CFO

Gigamon announced the appointment of Dave Arkley as its Chief Financial Officer (CFO) and Shane Buckley as its new President and Chief Operating Officer (COO).

Arkley most recently served as CFO of International Decision Systems, and previously was with Vertafore, Edifecs, Parallels and Itron.

Buckley is joining from Xirrus where he was CEO prior to their 2017 acquisition by Riverbed. Before joining Xirrus, Buckley served as a general manager and senior vice president at NETGEAR and held various executive leadership positions at Rohati Systems, Nevis Networks, Juniper Networks, Peribit and 3Com,

"Dave and Shane bring a wealth of knowledge to our exceptional leadership team and their proven business acumen in high growth, global markets will be a tremendous asset as we navigate the rapidly evolving cybersecurity space," said Paul Hooper, CEO of Gigamon. "We look forward to leveraging their business, financial and strategy skills as we continue to execute our next phase of growth plans."


Gigamon's $1.6B privatization deal has been completed

Gigamon confirmed the completion of its acquisition by Elliott Management, a leading multi-strategy private investment firm, and the Qatar Investment Authority.

The acquisition, valued at approximately $1.6 billion, was approved by Gigamon shareholders on December 22, 2017. As a result of the completion of the transaction, shareholders will receive $38.50 per share in cash and Gigamon common stock will no longer be listed for trading on the NYSE.

"This is a pivotal day for Gigamon employees, customers and partners around the world. With the acquisition complete, our team will continue to execute strategic initiatives that will both empower our customers with new, rich functionality and drive Gigamon to the next level of growth," said Paul Hooper, Chief Executive Officer of Gigamon. "As a private company, we will continue to build upon our leading technology foundation and transform the market we created and lead. 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. Working closely with Evergreen, we are entering a new and exciting era."

Elliott Management to privatize Gigamon in $1.6 billion deal

Elliott Management, a private investment firm known for shareholder activism, will acquire Gigamon for $38.50 per share in cash, for a total value of approximately $1.6 billion, making Gigamon a privately-held company. Elliott Management and its affiliates currently hold a 7.0% equity voting stake in Gigamon.

Gigamon's recent revenue trends
         2017                        2016
Q3    $79.2 million          $83.5 million
Q2    $69.1 million          $75.1 million
Q1    $69.6 million          $66.9 million

See also