Gigamon set to go public

14.07.2012
Network visibility vendor Gigamon filed documents with the Securities and Exchange Commission on Friday indicating that the company plans an initial public offering worth as much as $100 million, though that figure could change before the IPO is made official.

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In the filing, Gigamon cited positive cash flow over the past six years, as well as the increasing importance of and other products in the modern business IT environment.

"Organizations increasingly require enhanced visibility and control of their networks through the efficient collection and analysis of network traffic flows without degrading network performance or reliability," the company asserted.

Gigamon also hopes to wow potential investors with its client list, which it said contains four out of the top five U.S. banks and 43 companies in the Fortune 100. Moreover, it added, three of the top five managed healthcare providers in the U.S. and four of the top 10 retailers appeared on the list.

The company reported that its revenues more than doubled -- from $31.4 million to $68.1 million -- in the 2009-2011 time period. First-quarter revenues of $10.1 million in 2011 grew to $16.7 million during the same period of 2012.