Software program firm ServiceNow is in superior talks to purchase cybersecurity startup Armis, which was final valued at $6.1 billion, Bloomberg reported.
The deal, which might attain $7 billion in worth, can be ServiceNow’s largest acquisition, the outlet mentioned, citing folks conversant in the scenario who requested to not be recognized as a result of the talks are non-public.
The acquisition might be introduced as quickly as this week, however might nonetheless disintegrate, in line with the report.
Armis and ServiceNow didn’t instantly return a CNBC request for remark.
Armis, which helps firms safe and handle internet-connected units and defend them towards cyber threats, raised $435 million in a funding spherical simply over a month in the past and advised CNBC about its eventual plans for an IPO.
Armis CEO Yevgeny Dibrov and CTO Nadir Izrael.
Courtesy: Armis
CEO and co-founder Yevgeny Dibrov mentioned Armis was aiming for a public itemizing on the finish of 2026 or early 2027, pending “market situations.”
Armis’s determination to be acquired reasonably than anticipate a public itemizing is a standard path for startups in the meanwhile. The IPO markets stay uneven and plenty of startups are selecting to stay non-public for longer as an alternative of risking a muted debut on the general public markets.
Based in 2016, Armis mentioned in August it had surpassed $300 million in annual recurring revenues, a milestone it achieved lower than a yr after reaching $200 million in ARR.
Its newest funding spherical was led by Goldman Sachs Options’ development fairness fund, with participation from CapitalG, a enterprise arm of Alphabet. Earlier backers have included Sequoia Capital and Bain Capital Ventures.