ServiceNow to acquire cybersecurity startup Armis for $7.75B

In Brief

Enterprise bundle institution ServiceNow agreed to get a nine-year-old cybersecurity startup, Armis, for $7.75 cardinal successful cash.

The woody is simply a monolithic valuation leap for the company. Just past month, Armis raised a $435 cardinal pre-IPO backing round, which valued the institution astatine $6.1 billion.

Armis co-founder and CEO Yevgeny Dibrov had told TechCrunch past period that the institution aims to spell nationalist successful precocious 2026 oregon 2027, adding that an IPO is his “personal dream.”

Given the unpredictability of IPO markets and however fewer cybersecurity companies really go public, it is not a astonishment that Armis yet chose an M&A exit.

According to ServiceNow, Armis has reached $340 cardinal successful yearly recurring gross (ARR), with year-over-year maturation exceeding 50%.

Armis, which provides information bundle for captious infrastructure to Fortune 500 companies and governments, volition assistance ServiceNow grow its cybersecurity offerings.

The woody caps disconnected a engaged acquisition twelvemonth for ServiceNow, which scooped up MoveWorks for $2.85 cardinal and agreed to get cybersecurity startup Veza for $1 billion.

According to PitchBook, Armis has raised a full of $1.45 cardinal successful task superior from investors including Sequoia, CapitalG, and Insight Partners.

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