Enterprise software program firm ServiceNow agreed to amass nine-year-old cybersecurity startup Armis for $7.75 billion in money.
The deal is a large valuation leap for the corporate. Simply final month, Armis raised a $435 million pre-IPO funding spherical, which valued the corporate at $6.1 billion.
Armis co-founder and CEO Yevgeny Dibrov had advised information.killnetswitch final month that the corporate goals to go public in late 2026 or 2027, including that an IPO is his “private dream.”
Given the unpredictability of IPO markets and the way few cybersecurity firms really go public, it’s not a shock that Armis in the end selected an M&A exit.
In line with ServiceNow, Armis has reached $340 million in annual recurring income (ARR), with year-over-year progress exceeding 50%.
Armis, which supplies security software program for essential infrastructure to Fortune 500 firms and governments, will assist ServiceNow increase its cybersecurity choices.
The deal caps off a busy acquisition yr for ServiceNow, which scooped up Moveworks for $2.85 billion and agreed to amass cybersecurity startup Veza for $1 billion.
In line with PitchBook, Armis has raised a complete of $1.45 billion in enterprise capital from traders, together with Sequoia, CapitalG, and Perception Companions.
