ServiceNow Acquires Cybersecurity Startup Armis for $7.75 Billion to Triple Security Market Opportunity
Summary
ServiceNow announces massive $7.75 billion acquisition of cybersecurity startup Armis, more than tripling its security market opportunity as companies ramp up spending to defend against AI-era cyber threats.
Key Points
- ServiceNow acquires cybersecurity startup Armis for $7.75 billion in cash and debt, with the deal expected to close in the second half of next year
- The acquisition more than triples ServiceNow's market opportunity for security and risk solutions as companies increase cybersecurity spending to protect against AI-era threats
- Armis generates over $340 million in annual recurring revenue with 50% year-over-year growth and helps businesses protect internet-connected devices from cyber risks