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Enterprise software company ServiceNow has agreed to acquire nine-year-old cybersecurity startup Armis for $7.75 billion in cash.
The deal represents a huge jump in the company’s valuation. Just last month, Armis raised a pre-IPO funding round worth $435 million, raising the company’s valuation $6.1 billion.
Yevgeny Dibrov, co-founder and CEO of Armis, told TechCrunch last month that the company aims to go public in late 2026 or 2027, adding that an IPO is his “personal dream.”
Given the unpredictability of IPO markets and how few cybersecurity companies actually exist Go publicIt’s no surprise that Armis eventually chose to exit M&A.
According to ServiceNow, Armis has reached $340 million in annual recurring revenue (ARR), with year-over-year growth exceeding 50%.
Armis, which provides critical infrastructure security software to Fortune 500 companies and governments, will help ServiceNow expand its cybersecurity offerings.
The deal caps a busy acquisition year for ServiceNow, which acquired MoveWorks for $2.85 billion and agreed to acquire cybersecurity startup Veza for $1 billion.
According to PitchBook, Armis has raised a total of $1.45 billion in venture capital from investors including Sequoia, CapitalG, and Insight Partners.