Internet of Things security firm Armis in talks to be acquired

Internet of Things security firm Armis in talks to be acquired

Cybersecurity firm Armis, which specialises in protection for the Internet of Things (IoT), is in talks to be bought by a U.S. tech firm for around $1 billion (764.5 million pounds), Israeli financial media outlets reported on Monday.

The Calcalist financial news website said that Armis was in advanced negotiations with an unnamed potential buyer to be acquired at a valuation of $800 million to $1.2 billion.

Officials at Armis could not be reached for immediate comment.

The company says its enterprise security platform protects IoT devices – like medical infusion pumps or those used in production lines at car manufacturers – from attacks by identifying suspicious or malicious devices and quarantining them.

In April, Armis said it raised $65 million in Series C funding, bringing the company’s total funding to $112 million. The round was led by Sequoia Capital.

Source: Reuters 6th January, Jerusalem 

Reporting: Ari Rabinovitch

Copyright Lyonsdown Limited 2021

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