Enterprise software company ServiceNow has agreed to acquire the nine-year-old cybersecurity startup Armis for $7.75 billion in cash.
This deal marks a significant valuation increase for Armis. Just last month, the company raised $435 million in a pre-IPO funding round, valuing it at $6.1 billion.
Armis co-founder and CEO Yevgeny Dibrov told TechCrunch last month that the company planned to go public in late 2026 or 2027, adding that an IPO was his “personal dream.” However, given the volatility of IPO markets and the rarity of cybersecurity companies going public, it’s unsurprising that Armis ultimately opted for a merger and acquisition (M&A) exit.
According to ServiceNow, Armis has achieved $340 million in annual recurring revenue (ARR), with year-over-year growth exceeding 50%. Armis, which provides security software for critical infrastructure to Fortune 500 companies and governments, will help ServiceNow expand its cybersecurity offerings.
This deal caps off a busy acquisition year for ServiceNow, which also acquired MoveWorks for $2.85 billion and agreed to acquire cybersecurity startup Veza for $1 billion.
According to PitchBook, Armis has raised a total of $1.45 billion in venture capital from investors including Sequoia, CapitalG, and Insight Partners.
