Software Maker Gigamon Files for IPO

(Reuters) – Data traffic management software maker Gigamon LLC filed with U.S. regulators to raise up to $100 million in an initial public offering of its common shares.

The company told the U.S. Securities and Exchange Commission in a preliminary prospectus that Goldman Sachs, BofA Merrill Lynch and Credit Suisse were the lead underwriters for the offering.

Milpitas, California-based Gigamon, which intends to list its common stock under the symbol “PFMT,” did not name the stock exchange where it was planning to list its shares.

The company, founded in 2004, disclosed that its revenue rose to $16.7 million for the Jan-March quarter, from $10.1 million, a year earlier.

The company, backed by venture capital firm Highland Capital Partners, reported a profit attributable to common stockholders of $10.1 million on revenue of $68.1 million.

The filing did not reveal how many shares the company planned to sell or their expected price.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

(Reporting by Ashutosh Pandey in Bangalore; Editing by Viraj Nair)

Image Credit: Gigamon