Software company ServiceNow is reportedly in advanced discussions to acquire cybersecurity startup Armis in a deal that could be valued at up to $7 billion. If completed, the transaction would represent ServiceNow’s largest acquisition to date. While the deal could be announced as soon as this week, it remains uncertain and could still fall through.
Armis, founded in 2016, specializes in securing and managing internet-connected devices for businesses, protecting them from cyber threats. The company recently raised $435 million in funding and had previously indicated plans for an initial public offering, targeting late 2026 or early 2027, depending on market conditions. The startup has seen rapid growth, surpassing $300 million in annual recurring revenue less than a year after reaching $200 million. Its latest funding round was led by Goldman Sachs Alternatives’ growth equity fund, with participation from CapitalG, the venture arm of Alphabet, and previous investors including Sequoia Capital and Bain Capital Ventures. Many startups, like Armis, are currently favoring acquisitions over IPOs due to the volatility in public markets.
