Workflow automation platform ServiceNow is reportedly in advanced discussions to purchase cybersecurity startup Armis.
the deal, which could be worth up to $7 billion, could be announced in the coming days and comes in the wake of Armis’ preparations for an initial public offering (IPO), Bloomberg News reported Sunday (Dec. 14), citing sources familiar with the situation.
PYMNTS has reached out to both ServiceNow and Armis for comment but has not yet received a response.
Based in San francisco and founded by veterans of Israel’s military cyber intelligence forces, Armis deals in identifying and tracking security threats to devices, working with a variety of industries, such as defense, telecom, medical, retail and financial services.
According to Bloomberg, CEO Yevgeny Dibrov had said in August that Armis had reached $300 million in annual recurring revenue, up from $200 million in 2024.
And last month, the company raised $435 million in a pre-IPO funding round that valued it at $6.1 billion. Armis said it would use the new financing to fuel a three-year plan that includes reaching $1 billion in annual recurring revenue and preparing for an IPO.