U.S. venture capital giant buys Israeli cybersecurity company for 1.1 bln USD

Source: Xinhua | 2020-01-08

Israeli cybersecurity company Armis will be acquired by Insight Partners, a U.S. global software investor, for 1.1 billion U.S. dollars, the two companies announced on Tuesday.

This is the largest acquisition of an Israeli cybersecurity company ever, and the third ever for any Israeli company.

Armis, headquartered in the coastal city of Tel Aviv and in Palo Alto, California, was founded in 2015 to enable enterprises to adopt new connected devices without fear of compromise by cyber-attacks.

The Israeli company is used by global organizations such as Allergan, Mondelez, Oracle and Sysco Food.

Armis discovers devices on and off the network, continuously analyzes endpoint behavior to identify risks and attacks.

Thus, it protects critical information and systems by identifying suspicious or malicious devices and quarantining them.

The software offered by the company is cloud-based, without the need of installation on local servers, which allows it to analyze all devices connected to the company's network.

Insight Partners, a venture capital and private equity firm, was founded in 1995 and headquartered in New York City.

It currently has over 20 billion dollars of assets under management and has cumulatively invested in more than 300 companies worldwide.