From AnimeNewsNetwork: In 1999, GONZO merged with Digimation to form Gonzo Digimation Holdings, one of Japan s premier digital animation production companies. The new merged company s name was Gonzo Digimation. This name was changed back to Gonzo in July 2004. Shouji Murahama first imagined the company as a group of ruffians therefore, he chose the name GONZO as it means ruffian in the Italian language.
http://www.gonzo.co.jp/works/index.html