ServiceNow is acquiring cybersecurity startup Armis for $7.75 billion in cash. This deal represents a significant increase in valuation for Armis, which was recently valued at $6.1 billion following a $435 million pre-IPO funding round. Armis, co-founded by CEO Yevgeny Dibrov, had aspirations for an IPO in late 2026 or 2027, but the current volatility in IPO markets likely influenced its decision to pursue a merger instead. Armis reported $340 million in annual recurring revenue (ARR) and boasts over 50% year-over-year growth, making it an attractive asset for ServiceNow. The startup specializes in security solutions for critical infrastructure, catering to Fortune 500 companies and governments. This acquisition will enhance ServiceNow's cybersecurity offerings, which is crucial as the company has also been active in the acquisition space, recently purchasing Moveworks for $2.85 billion and agreeing to acquire another cybersecurity firm, Veza, for $1 billion. Armis has secured a total of $1.45 billion in venture capital from notable investors like Sequoia, CapitalG, and Insight Partners. This financial backing underscores the confidence in Armis' technology and market potential, even as the company shifts from pursuing an IPO to aligning with a larger enterprise like ServiceNow.