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Gillian Tan

Elliott Sets Up Gigamon for Speed Dating

Step 1, the activist investor takes a stake. Step 2, a takeover.

Elliott Management Corp., the activist investor with a penchant for undervalued technology companies, is at it again.

After successfully agitating for the sales of Lifelock Inc. and Mentor Graphics Corp. in 2016, Elliott on Monday unveiled a 15.3 percent stake in Gigamon Inc., a company that makes network-technology products, some of which monitor traffic. Elliott, following the script it's used before, said it intends to encourage management to undertake a strategic review including a potential sale. The Santa Clara, California-based company's shares soared 17 percent in response.