Willkie represented Insight in the acquisition – the largest-ever in the enterprise IoT security software industry and of a private Israeli cybersecurity company.
On January 6, it was announced that Insight Partners, a global software investor respected for its track record of scaling up industry disruptors, agreed to acquire Armis, the leader in enterprise IoT security. Under the terms of the agreement, Insight will acquire the company for cash at a valuation of $1.1 billion, with participation from CapitalG for $100 million and rollover from certain existing stockholders. Armis will continue to be managed by its two co-founders, Yevgeny Dibrov, CEO, and Nadir Izrael, CTO, and executive team, while leveraging the support of Insight's industry leading business strategy and ScaleUp division, Onsite. As part of the acquisition, Insight Founder Jeff Horing, Insight Managing Director Teddie Wardi, and Cyberstarts Founder Gili Raanan will be serving on the Armis Board of Directors.
Based in Palo Alto, Armis is a leading agentless, enterprise-class security platform founded in 2015 to address the new threat landscape of unmanaged and IoT devices and let organizations safely embrace unmanaged and IoT devices throughout their business. Armis uses a unique out-of-band sensing technology to discover and analyze all managed, unmanaged, and IoT devices—from traditional devices like laptops and smartphones to new unmanaged smart devices like smart TVs, webcams, printers, HVAC systems, industrial control systems, medical devices and more.
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. CapitalG, formerly Google Capital, is the late-stage growth venture capital fund financed by Alphabet Inc., and based in San Francisco, CA. Founded in 2013, it focuses on growth stage technology companies, helping them scale with support from Google's vast expertise and resources.
The Willkie team was led by partner Matthew Guercio and associate Tai Fukumoto, and included partner Robert Rizzo and associate John DiNapoli.