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Insight Scoops Up IoT Security Startup Armis for $1.1B

December 07, 2019 / Jessica Lyons Hardcastle

Insight Partners will acquire IoT security startup Armis for $1.1 billion. The deal marks the first cybersecurity acquisition of 2020, and it’s the largest-ever enterprise IoT security software acquisition, according to the companies. Armis will continue to operate independently and be managed by its two co-founders, CEO Yevgeny Dibrov and CTO Nadir Izrael, along with its executive team. Insight and Armis expect the transaction to close in February. The deal comes as the number of connected devices explodes — Gartner expects 25 billion of these by 2021 — and they represent the fastest-growing attack landscape for organizations globally.