Israeli Cybersecurity Exit: Leading Startup Acquired in Major Deal
Israeli cybersecurity firm Armis announced yesterday (Thursday) its acquisition of OTORIO, a cybersecurity startup specializing in securing critical infrastructure and OT (Operational Technology) assets. While the financial terms were not officially disclosed, industry sources estimate that Armis will pay approximately $120 million for the acquisition.
Founded in 2018 by Brigadier General (Res.) Daniel Bern, the former head of the IDF’s Cyber Defense Directorate, and Yair Attar, OTORIO focuses on protecting critical infrastructure such as energy, utilities, and industrial facilities. Its technology is designed to operate in both on-premise environments and networks that are partially or fully disconnected from the internet. Following the acquisition, most OTORIO employees are expected to integrate into Armis.
850 Employees in Israel and Worldwide
Founded in 2016 by Yevgeny Dibrov, Tomer Schwartz (who is no longer active in the company), and Nadir Izrael, Armis currently employs approximately 850 people in Israel and globally. Its client list includes the U.S. Postal Service, United Airlines, Colgate-Palmolive, and Mondelēz International (parent company of brands like Oreo and Milka).
“Expanding Our Platform for Critical Infrastructure Security”
Yevgeny Dibrov, CEO and Co-Founder of Armis, stated: “The acquisition of OTORIO will allow us to offer additional security solutions for infrastructure providers and critical industries, expanding our platform to cover on-premise and hybrid environments. This growth positions the Armis platform as the most comprehensive solution on the market for protecting OT environments and cyber-physical assets.”
“Leveraging Our Expertise in Operational Security”
Daniel Bern, CEO and Co-Founder of OTORIO, added: “Armis has quickly become the leader in cyber exposure management. I am excited to join Armis at this stage, along with our team, to leverage the extensive experience we have gained in protecting operational and cyber-physical environments.”
This acquisition marks Armis’ third purchase in the past year, following its acquisitions of Silk Security and CTCI in 2024. The company has surpassed $200 million in annual recurring revenue (ARR) and is preparing for an IPO in the near future. Armis aims to reach $500 million ARR on its path toward a $1 billion revenue milestone.
