Armis, a California-based cyber exposure management firm, has recently made an announcement regarding its acquisition of Otorio, a move that will enhance its product lines with technology for operational technology (OT) and cyber-physical systems (CPS) security. The deal, valued at approximately $120 million, marks a strategic step for Armis in catering to the needs of organizations operating in air-gapped or sequestered environments.
According to Yevgeny Dibrov, the CEO and Co-founder of Armis, the acquisition of Otorio is driven by the increasing demand for cybersecurity solutions across various industries. He emphasized the importance of offering hybrid solutions to customers, especially in verticals like heavy industry and critical infrastructure such as energy or utilities. With the addition of Otorio’s expertise in securing heavy industry and critical infrastructure sectors like oil and gas, utilities, and manufacturing, Armis aims to provide proactive measures against cyber attacks in converged and air-gapped environments.
This acquisition represents Armis’ third in less than a year, following the integration of AI security startup CTCI and risk prioritization startup Silk Security into its Centrix asset management and security platform. The company’s aggressive expansion strategy is bolstered by a recent $200 million funding round, which valued Armis at $4.2 billion and positioned it for a potential IPO in the near future.
Armis’ focus on strengthening its OT and CPS security suite aligns with the growing importance of securing critical infrastructure and industrial control systems (ICS) against cyber threats. Recent incidents, such as the disruption of irrigation systems in Israel due to hacker attacks on ICS, highlight the vulnerabilities present in these environments. By acquiring Otorio and integrating its technology into its offerings, Armis aims to provide holistic security solutions for organizations operating in high-risk sectors.
The addition of Otorio’s capabilities further solidifies Armis’ position as a market leader in cybersecurity, particularly in the realm of OT and CPS security. The company’s continued investment in cutting-edge technologies and strategic acquisitions demonstrates its commitment to providing comprehensive protection for its customers.
As Armis continues to evolve and expand its product offerings, industry observers are keenly watching to see how the company leverages its recent acquisitions to address the evolving threat landscape and meet the cybersecurity needs of organizations across various sectors. With its sights set on an IPO and a growing valuation, Armis is poised to make a significant impact in the cybersecurity market in the coming years.