Cyber Company Armis Is Negotiating Its Acquisition According to a Valuation of Approximately $1 Billion

Update: one person familiar with the deal has identified the acquiring company as New York-based venture capital and private equity firm Insight Partners.

Israeli IoT security company Armis Inc. is currently in advanced negotiations for its acquisition by a leading U.S. investment firm, two people familiar with the deal told Calcalist on condition of anonymity. The deal is being negotiated according to a company valuation of between $800 million and $1.2 billion, the people said.

Armis declined Calcalist’s request for comment.

Founded in 2015, Armis provides information security software for enterprise IoT systems, analyzing and classifying devices and their behavior to identify risks and protect information and systems. The company’s customers include New York-listed foodservice distributor Sysco Corp., Samsung, and New York-listed pharmaceutical company Allergan PLC. The company employs some 240 people in Palo Alto, California, and in Tel Aviv.

In November, Calcalist reported that Google has invested several million dollars in Armis, citing a source. Prior to that investment, the company had raised $112 million, with the most recent investment being a $65 million funding round, completed in April 2019.