Cloud workflow management software provider ServiceNow Inc. is reportedly in advanced talks to buy cyber exposure management and security company Armis Inc. in a deal that may be announced in the coming days.
Bloomberg reported Saturday that the deal could be valued at as much as $7 billion and would represent the biggest acquisition ServiceNow has made to date. The news comes less than two weeks after ServiceNow announced it had signed an agreement to acquire data security platform company Veza Inc. for a sum believed to be more than $1 billion.
Neither ServiceNow nor Armis has commented on the reports.
Founded in 2015, Armis is focused on protecting modern enterprise environments by providing visibility, risk management and real-time security for all connected assets. The company’s cyber exposure management offering helps organizations identify, understand and secure every device connected to their network. Coverage includes traditional information technology equipment and newer internet of things and operational technology systems.
The Armis Centrix cloud-native security platform continuously monitors the entire digital attack surface of an organization, including taking inventory of all asset types, tracking device behavior and assessing risk without needing software agents installed on devices. It uses an artificial intelligence engine that aggregates behavioral data across billions of devices worldwide to enable the platform to classify devices, detect anomalies and automatically alert or intervene when assets deviate from secure baselines.
The company also helps organizations prioritize vulnerabilities and manage risks by correlating data from its visibility and threat detection tools with context about device criticality and exposure.
Armis works with companies across healthcare, manufacturing, government and critical infrastructure. Notable customers include Nasdaq Inc., Mondelez International Inc., Mater Hospital, United Airlines Holdings Inc., the Port of Antwerp Bruges, Colgate-Palmolive Company and DocuSign Inc.
Coming into its potential acquisition, Armis had raised $1.17 billion over seven rounds, according to data from Tracxn, including rounds of $17 million in 2017, $30 million in 2018 and $65 million in 2019, before Insight Partners took a majority stake in 2020.
Following the Insight Partners deal, Armis then went on to raise $300 million at a $3.4 billion valuation in November 2021, $200 million at a $4.2 billion in October 2024, and then a final round led by Alphabet Inc.’s CapitalG of $435 million last month.
Investors in Armis include Goldman Sachs Group Inc., CapitalG LP, Evolution Equity Partners, Alkeon Capital Management, General Catalyst Group Management, Brookfield Asset Management, Georgian, Insight Partners LP and One Equity Partners.
Photo: Armis
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