Armis announced its acquisition Wednesday of a startup focused on helping organizations prioritize their response efforts to cybersecurity risk.
The acquisition of the startup, Silk Security, is the second to date for cybersecurity unicorn Armis. The company said the deal is worth $150 million.
[Related: 7 Cybersecurity CEOs That Are Eyeing An IPO]
The deal follows Armis’ acquisition in February of Cyber Threat Cognitive Intelligence, a startup focused on tracking real-world exploits of vulnerabilities.
For the Silk Security acquisition, Armis said it will integrate the startup’s technology into Centrix, which is the vendor’s vulnerability management platform.
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Silk’s technology will assist both with risk prioritization and remediation, according to Armis. The new capabilities will enable Armis to offer a “consolidated view of security findings,” leveraging data sources across on-premises systems, cloud environments, application security tools and software code, Armis said in a statement.
The result is that Armis will now be able to “fully manage and automate remediation” for its users, the company said.
Founded in 2022, Silk Security had raised $12.5 million in funding to date from investors including Insight Partners and CrowdStrike’s Falcon Fund, according to Armis.
IPO-Bound
The series of acquisitions follows the disclosure by Armis co-founder and CEO Yevgeny Dibrov last fall that Armis is stepping up its efforts to achieve readiness for an initial public offering and has been eyeing potential IPO timing as soon as the second half of 2024.
The company—a top provider of cybersecurity for IT, medical, IoT and OT assets—received a valuation of $3.4 billion in connection with its $300 million funding round in November 2021, placing the company among the top-valued cybersecurity “unicorns.”
Then last year, Armis disclosed that its annual recurring revenue had surpassed $100 million, a key milestone for venture-backed tech vendors that are working up to an IPO.
But along with its expansion into becoming a full cybersecurity platform provider, Armis is continuing to see surging growth and has a “clear path” to being cash-flow-positive by mid-2024—all of which suggests an Armis IPO is likely in the not-too-distant future, Dibrov told CRN in September.