Armis acquires Otorio for $120 million in latest move toward IPO
Company strengthens its OT/CPS security offerings as it eyes public markets. This is Armis' third acquisition in less than a year, previously acquiring AI security startup CTCI and risk prioritization startup Silk Security.
Armis, a leader in cyber exposure management and security, has acquired Israeli startup Otorio, a provider of operational technology (OT) and cyber-physical systems (CPS) security. The company did not disclose the financial terms of the acquisition, but the deal is valued at approximately $120 million, according to market estimates.
Otorio’s Titan platform will be integrated into Armis’ Centrix cloud-based cyber exposure management suite, enhancing its OT/CPS security capabilities. The move also allows Armis to offer an on-premises CPS security solution for industries requiring air-gapped environments, such as energy, utilities, and manufacturing.
“We are seeing unprecedented demand across all industries, but some specific verticals require a hybrid environment for complete protection,” said Yevgeny Dibrov, CEO and Co-founder of Armis. “Through this acquisition, Armis can now offer a fully air-gapped security solution, ensuring heavy industry and critical infrastructure remain protected.”
Founded in 2018 by Daniel Bren and Yair Attar, Otorio specializes in cybersecurity for industrial environments, providing proactive protection against cyber threats in critical sectors such as oil and gas, manufacturing, and utilities. The company’s expertise in securing air-gapped and converged environments aligns with Armis’ broader vision of securing industrial operations.
The acquisition expands Armis’ platform with enhanced capabilities, including secure remote access (SRA) for Zero Trust security and advanced attack path mapping, further solidifying its position as a leader in critical infrastructure protection.
Armis has been on an aggressive expansion trajectory, with Otorio marking its third acquisition in less than a year. The company previously acquired AI security startup CTCI and risk prioritization startup Silk Security. Armis has demonstrated its ability to successfully integrate acquisitions into its Centrix platform, contributing to a reported 2000% increase in related revenue.
The deal follows Armis’ October 2024 announcement of a $200 million funding round at a $4.3 billion valuation, which has fueled its rapid growth. Industry analysts speculate that these strategic moves indicate that Armis is preparing for an initial public offering (IPO), though the company has not confirmed a timeline.
“Armis has rapidly become the leading provider of cyber exposure management, offering unparalleled visibility, security, and risk management across industries,” said Daniel Bren, CEO and Co-founder of Otorio. “We are excited to join forces with Armis and leverage our deep operational expertise to help customers achieve complete cyber resilience.”
