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Enterprise software company ServiceNow has agreed to acquire nine-year-old cybersecurity startup Armis for $7.75 billion.
The deal is very expensive for the company. Last month, Armis raised $435 million in pre-IPO funding, which valued the company $6.1 billion.
Armis co-founder and CEO Yevgeny Dibrov told TechCrunch last month that the company wants to go public in late 2026 or 2027, adding that an IPO is “his dream”.
Given the unpredictability of the IPO markets and the limited number of cybersecurity companies go publicit’s no surprise that Armis ultimately opted for an M&A exit.
According to ServiceNow, Armis has reached $340 million annually (ARR), a year-over-year growth of over 50%.
Armis, which provides critical infrastructure security software to Fortune 500 companies and governments, will help ServiceNow expand its cybersecurity offerings.
The deal caps a busy year of acquisitions by ServiceNow, which acquired Moveworks for $2.85 billion and agreed to buy cybersecurity startup Veza for $1 billion.
According to PitchBook, Armis has raised $1.45 billion in funding from investors, including Sequoia, CapitalG, and Insight Partners.
