Elliott Management has sold ThreatINSIGHT, a division of Gigamon, to Fortinet
ThreatINSIGHT is a leader in network detection and response, offering a scalable, multi-tenant Software-as-a-Service solution which leverages the high-touch support and threat intelligence of security experts to deliver clients with the highest priority threats. Utilizing proprietary and patent-protected solutions, ThreatINSIGHT can triage and investigate malicious network activity and attacks that are undetected by endpoint detection and response, intrusion prevention systems and firewall security. Gigamon was taken private by Evergreen Coast Capital, the private equity affiliate of Elliott Management, in 2017 and acquired ThreatINSIGHT, formerly known as ICEBRG, in 2018.
Lincoln International was engaged to help facilitate the sale process given the firm’s industry expertise and extensive connections across the cybersecurity vertical. Lincoln also has deep experience consummating divestures on behalf of large vendors like Gigamon. The acquisition of ThreatINSIGHT continues Fortinet’s focus on building a superior extended detection and response platform to complement its overall focus on zero trust network access.
Don More, Managing Director in Lincoln’s Technology, Media & Telecom Group who leads cybersecurity, commented, “This transaction is a great representation of the continued interest and momentum in the cybersecurity sector despite macroeconomic headwinds. Cybersecurity continues to be resilient as network attacks increase in frequency and complexity. With the addition of ThreatINSIGHT, Fortinet is positioned to be at the forefront of the sector to continue its innovation in network, cloud and enterprise security.”
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