January 6, 2020 / 7:52 AM / 18 days ago

Internet of Things security firm Armis in talks to be acquired -media

JERUSALEM, Jan 6 (Reuters) - Cybersecurity firm Armis, which specializes in protection for the Internet of Things (IoT), is in talks to be bought by a U.S. tech firm for around $1 billion, Israeli financial media outlets reported on Monday.

The Calcalist financial news website said that Armis was in advanced negotiations with an unnamed potential buyer to be acquired at a valuation of $800 million to $1.2 billion.

Officials at Armis could not be reached for immediate comment.

The company says its enterprise security platform protects IoT devices — like medical infusion pumps or those used in production lines at car manufacturers — from attacks by identifying suspicious or malicious devices and quarantining them.

In April, Armis said it raised $65 million in Series C funding, bringing the company’s total funding to $112 million. The round was led by Sequoia Capital. (Reporting by Ari Rabinovitch Editing by Tova Cohen)

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