Insight Partners and CapitalG completed the acquisition of Armis for $1.1bn.

Insight Partners, a global software investor, and CapitalG, a private equity firm under Alphabet, completed the acquisition of Armis, a developer of IoT security solutions, for $1.1bn. Armis will continue to operate independently and will be fully managed by its co-founders. "We considered growth rounds and strategic offers, but by partnering with Insight we have the best of both worlds - operational support and independence, both of which were important in our decision to take on a scaleup partner this early in our company journey. We are thankful for the support we received from our investors at Sequoia, Tenaya, Bain, and Red Dot; and we, as well as the whole Armis team, are very excited to have Insight working alongside us as we enter this next phase, accelerating our platform and growth," Yevgeny Dibrov, Armis Co-Founder and CEO.