Private equity firm Insight Partners has acquired Armis, an enterprise IoT (Internet of Things) security startup, ChannelE2E reports. The deal's pricetag: $1.1 billion. Still, it's difficult to pinpoint valuation since Armis revenue and EBITDA (earnings before interest, taxes, depreciation and amortization) figures were not disclosed.
Armis develops an agentless, enterprise security platform for managed, unmanaged and IoT devices -- from traditional devices like laptops and smartphones to new unmanaged smart devices like smart TVs, webcams, printers, HVAC systems, industrial control systems, medical devices and more, the company says.
Early Armis partners include such MSPs, MSSPs and MDR (managed detection and response) specialists as Fishtech Group, CriticalStart, Optiv, and Presidio.
Insight Partners, meanwhile, has emerged as a private equity giant in the cybersecurity software and IT management markets. The private equity firm's key investments and ownership stakes include such firms as Kaseya, SentinelOne and Tenable, among many others.
