Armis Acquires Otorio for $120M: Enhancing Cybersecurity for Industrial and Physical Spaces
Armis buys Otorio for $120M to bolster cybersecurity in industrial and physical environments, integrating Otorio's Titan platform.
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Armis Acquires Otorio for $120M: Enhancing Cybersecurity for Industrial and Physical Spaces
More consolidation is playing out in the security industry as platform players scoop up technology to give them deeper expertise in growing business areas. Thursday, Armis, a $4.2 billion specialist in cyber exposure management, said it would be acquiring Otorio, a specialist in securing industrial and physical environments. Image Credits:Steven Puetzer / Getty Images Terms of the deal are not being disclosed but sources close to the transaction said that Armis — San Francisco-based but with roots out of Israel — is paying $120 million in cash and shares for Otorio. Previously, the Tel Aviv-based startup had raised $50 million from one strategic investor, the industrial firm Andritz, according to PitchBook data. Otorio’s flagship product is called Titan, and it will be getting integrated into Armis’ Centrix platform. Up to now, Armis’ main focus has been on cloud services and identifying and managing risks across that attack surface. As one example of the kind of work that it does: it h…
