California cyber exposure management firm Armis on Thursday announced the acquisition of Otorio, a deal that adds technology for operational technology (OT) and cyber-physical systems (CPS) security to its product lines.
The transaction, valued in the range of $120 million, gives Armis a path to market an on-prem CPS solution for organizations or segments of an organization that operate in air-gapped or sequestered environments.
“We are seeing unprecedented demand across all industries but for some specific verticals, customers require a hybrid environment for complete protection. Through this acquisition, Armis can now offer an on-premises solution for customers that require a fully air-gapped environment for heavy industry and critical infrastructure like energy or utilities,” said Yevgeny Dibrov, CEO and Co-founder, Armis.
Founded in 2018, Otorio is well known for deep domain expertise in securing heavy industry and critical infrastructure across sectors such as oil and gas, utilities, and manufacturing. The company specializes in protecting converged and air-gapped environments and offers proactive measures against cyber attacks.
This marks Armis’ third acquisition in less than 12 months, following its purchases of AI security startup CTCI and risk prioritization startup Silk Security. The company is working on integrating these technologies into its Centrix asset management and security platform.
Armis recently completed a $200 million funding round at a valuation of $4.2 billion and is preparing for an IPO.
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