Armis was
acquired by the venture capital firm Insight Partners in a $1.1 billion cash
deal.
The five-year-old
Armis, which specializes in enterprise-level IoT security, will operate as an
independent entity under the direction of its two co-founders Yevgeny Dibrov,
CEO, and Nadir Izrael, CTO and the current executive team.
The acquisition
also involved the VC firm CapitalG which contributed $100 million and is
expected to close in February. Insight Partners said Armis will have access and
the support of its ScaleUp division, Onsite.
“We
considered growth rounds and strategic offers, but by partnering with Insight
we have the best of both worlds – operational support and independence, both of
which were important in our decision to take on a scaleup partner this early in
our company journey,” Dibrov said.
Gloss