Acquisition Focused on speeding up Armis ‘growth and strengthens the organization’s leading position in addressing the need for a large global market for IoT security.
Insight will buy Armis under the terms of the agreement for a cash price of $1.1 billion, with CapitalG participation for $100 million and rollover from some current stockholders.
Armis will continue to operate independently and be entirely operated by its two co- founders, Yevgeny Dibrov, CEO, and Nadir Izrael, CTO and executive team, while leveraging the support of Insight’s industry leading business strategy and ScaleUp division, Onsite.
Armis will continue to operate independently and will be completely run by its two co-founders, Yevgeny Dibrov, CEO, and Nadir Izrael, CTO and Executive Team, while leveraging the resources of Onsite, Insight’s industry-leading business development and ScaleUp division.
Armis estimates that up to 90% of all devices will be unmanaged and unsecured by 2021 – significantly increasing potential attack and creating a major security gap in companies and organizations.
Source: Insight Partners