Tech IPOs: Hello Gigamon, Palo Alto Networks, ServiceNow
Among recent IPO moves:
From Gigamon to ServiceNow and Palo Alto Networks, a range of technology companies are testing the IPO (initial public offering) waters again. For channel partners, the IPOs could mean new money and fresh funding for partner programs, training, certification and joint customer engagements.
Among recent IPO moves:
- Gigamon, according to an SEC filing, is preparing to IPO soon.
- Palo Alto Networks is expected to go public July 19.
- ServiceNow (NYSE: NOW) jumped 32 percent during opening trading in late June — though shares have settled down a bit since that time.
Each company has a different technology focus but all three businesses have one thing in common: The desire to work even more closely with channel partners.
Gigamon’s technology gives channel partners and customers deeper visibility into network traffic running across enterprises, data centers, service providers and even virtualized infrastructure. The company is 100 percent channel focused, and helps partners and customers to analyze forensics, VOIP quality of service (QoS) and application performance.
As compute, storage and network resources converge, Gigamon could help partners to more effectively optimize physical and virtual infrastructure.
Founded in 2004, Gigamon’s revenues have increased from $31.4 million in 2009 to $68.1 million in 2011.
Palo Alto Networks IPO
Meanwhile, Palo Alto Networks is looking to raise about $175 million. It has been a long and winding road for Palo Alto in recent years, with multiple channel partner shifts.
The firewall and computer security specialist expanded its technology partner program in February, zeroing in on data center and mobility partners.
The company recently hired F5 Networks’ veteran Mark Anderson as senior VP of worldwide field operations. And former Aruba Networks CFO Steffan Tomlinson arrived in February. He previously oversaw Aruba’s IPO.
ServiceNow’s Service Desk
Meanwhile, ServiceNow has completed its IPO. The company offers cloud-based services to help enterprises automate IT operations. The company’s core customer base includes managed services providers (MSPs) and several vertical markets. The company’s cloud-based service desk supports ITIL (Information Technology Infrastructure Library), a set of documented best practices that MSPs and channel partners are embracing.
ServiceNow partners include Accenture, CompuCom and IBM.
Amid examples like ServiceNow, Gigamon and Palo Alto Networks, Forbes suggests that the tech IPO deep freeze is finally thawing. It’s not the go-go 1990s anymore. But tech remains alive and well. And many of this year’s IPOs will help to fund channel partner programs for years to come.