Israeli cybersecurity company Armis Security today announced that it is acquiring Israeli company Silk Security for $150 million. Silk Security has developed a platform that allows data security managers to identify and prioritize a range of vulnerabilities and repair them. Following the acquisition, Armis will incorporate Silk's platform into its own platform.
Silk was founded in 2022 by CEO Yoav Nathaniel, CTO Bar Katz and CPO Or Priel. The company has raised $12.5 million to date from investors including Insight Partners, Falcon Fund, CrowdStrike and Hetz Ventures. Armis itself was founded in 2015 by CEO Yevgeny Dibrov and CTO Nadir Izrael. Armis's customers include Fortune 100,200 and 500 companies as well as governments, state agencies and local authorities.
Dibrov said, "Global enterprises and governments need a platform that can address the entire lifecycle of cybersecurity threats. Given today’s complicated, dynamic threat landscape, legacy technologies and point solutions are no longer fit for purpose. To ensure the entire attack surface is both defended and managed in real time, organizations need a comprehensive solution that quantifies and reduces risk continually through the ability to prioritize and remediate the most important security findings at any given time, in any environment."
Dibrov told "Globes," "We have grown very significantly in recent years and we are trying to build a platform here. This is something that our customers also want and are pushing us to. Ultimately, if you want to build a big company, you cannot just have a niche solution and we want to create a basket of products for our customers."
Nathaniel said, "We are extremely excited to be joining forces with Armis and to have the opportunity to bring our technology into the Armis solution stack. Organizations across the world are struggling to address increasing concerns about security risks to ensure business continuity. These concerns can be resolved by creating proactive strategies to identify, manage and reduce those risks. Customers of Silk Security and Armis are going to have an accelerated advantage in the use of our technology with this unprecedented integration, benefiting from a holistic approach for exposure management that works even for the most complex organizations."
Published by Globes, Israel business news - en.globes.co.il - on April 17, 2024.
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