Gigamon Security Solutions Drive Continued Performance and Market Share Leadership
Company sustains year-over-year growth and achieves sixteenth successive quarter of operating profit
SANTA CLARA, Calif., Aug. 14, 2018 /PRNewswire/ -- Gigamon Inc. ("Gigamon"), the company leading the convergence of network and security operations to help organizations improve their security stance, today announced that its security solutions helped drive strong financial performance and continued market share leadership. The company ended the second quarter with year-over-year revenue and bookings growth, as well as its sixteenth successive quarter of operating profit.
In the second quarter, Gigamon earned global business success including:
- Announcement of a Global Partnership with FireEye to improve security effectiveness and efficiency for joint customers. The strategic alliance will allow both companies and their channel partners to bring a unified approach to global sales and deployments, delivering deeper integration and more effective security solutions.
- Release of GigaSECURE® Cloud for Microsoft Azure. Developed for enterprise customers with mission-critical applications deployed in Azure, GigaSECURE Cloud enables organizations to acquire, optimize and distribute selected traffic to security and monitoring tools, helping ensure business-critical data in the cloud is protected and monitored by security operations.
- Recognition as the market leader for the fifth consecutive year in the 2018 IHS Network Monitoring Equipment report, expanding its market share from 26 to 37 percent over that span. With 37 percent of overall industry revenue in calendar year 2017, the company increased its lead over the second-placed competitor to 21 percent. In the Government vertical, Gigamon market share increased to 61 percent - four times its nearest competitor.
Gigamon won thirteen new opportunities valued at over one million dollars in the quarter. Additional notable customer wins include:
- The Philippines' leading airline chose Gigamon to enable faster rollout of security initiatives, improving visibility for all their security, network and SIEM monitoring requirements.
- Several agencies of the US Federal government, including the United States Air Force, selected Gigamon to provide visibility to their physical and virtual environments. The flexible architecture uses inline bypass to improve the utilization of their security tools and reduce time to incident resolution.
- One of the fastest growing mortgage companies in the United States implemented Gigamon to more easily add tools to their security stack, helping them increase confidence in their security posture.
"Gigamon enjoyed a tremendous second quarter, and we continue to garner the attention of top tier companies who are searching for a simplified path to reduced risk and establish a clear view of the rapidly evolving threat landscape," said Paul Hooper, chief executive officer of Gigamon. "The recent addition of the ICEBRG solution to the Gigamon portfolio will transform the industry through the SaaS delivery of advanced network traffic analytics."
Gigamon strengthened executive bench
The company also added several well-regarded security and networking industry veterans to help lead the team through its next growth phase, including Dave Arkley as CFO, Shane Buckley as President and COO and Mike Huckaby as Vice President of Global Pre-Sales.
About Gigamon
Gigamon is the company leading the convergence of network and security operations to help organizations reduce complexity and increase efficiency of their security stack. The Company's GigaSECURE® Security Delivery Platform is a next generation network packet broker that helps customers make threats more visible across cloud, hybrid and on-prem environments, deploy resources faster and maximize the performance of their security tools. Global 2000 companies and government agencies rely on Gigamon solutions to help stop tool sprawl and save costs. Learn how you can make your infrastructure more resilient, more agile and more secure at www.gigamon.com, on our blog and Twitter, LinkedIn and Facebook.
SOURCE Gigamon
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