Insight Partners Acquires IoT Security Firm Armis at a Valuation of $1.1B

PALO ALTO, Calif. -- Armis, the leader in enterprise IoT security, today announced that it has agreed to be acquired by Insight Partners (Insight), a global software investor respected for its track record of scaling up industry disruptors, to further strengthen its market dominance in unmanaged device security.

Under the terms of the agreement, Insight will acquire the company for cash at a valuation of $1.1 billion, with participation from CapitalG for $100 million and rollover from certain existing stockholders. Armis will continue to operate independently and will be fully managed 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. Closing is expected to occur in February and is subject to customary conditions and approvals.

"Insight is one of the most sophisticated software investors in the sector, and it is due to the depth of their domain expertise that they really understand the enterprise IoT device challenge we are looking to solve, and the size of the market opportunity. We considered growth rounds and strategic offers, but by partnering with Insight we have the best of both worlds - operational support and independence, both of which were important in our decision to take on a scaleup partner this early in our company journey," said Yevgeny Dibrov, co-founder and CEO at Armis. "We are thankful for the support we received from our investors at Sequoia, Tenaya, Bain, and Red Dot; and we, as well as the whole Armis team, are very excited to have Insight working alongside us as we enter this next phase, accelerating our platform and growth."

Insight Venture Partners