The acquisition comes as cyber exposure management platform provider Armis ‘continues to prepare for an IPO,’ the company says.
Armis announced its acquisition Thursday of a startup that provides security for operational technology (OT) and cyber-physical systems.
The acquisition of the startup, Otorio, is the third to date for cybersecurity unicorn Armis—all of which have been completed roughly within the past year.
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Terms of the deal were not disclosed, and Armis declined to disclose the startup’s head count in an email to CRN.
The deal follows Armis’ acquisition in April 2024 of risk prioritization startup Silk Security as well as its acquisition of Cyber Threat Cognitive Intelligence, which tracks real-world exploits of vulnerabilities, in February 2024.
Otorio was founded in 2018 and has focused on offering proactive security against attacks targeting “heavy industry and critical infrastructure,” including customers in the oil and gas, utilities and manufacturing industries, Armis said in a news release.
The company said it will integrate the startup’s technology into its cyber exposure management platform, Armis Centrix.
Meanwhile, Armis also suggested that the move is the latest that will help lay the groundwork for its planned pursuit of an initial public offering. The acquisition comes as Armis “continues to prepare for an IPO,” the company said in the release.
In October 2024, Armis achieved a valuation of $4.2 billion in connection with raising its $200 million Series D funding round. The company had said several months earlier, in August 2024, that it had surpassed $200 million in annual recurring revenue.
Armis currently has more than 850 employees in total, the company told CRN in an email Thursday.
