ServiceNow Inc (NYSE:NOW, XETRA:4S0) is reportedly in advanced discussions to acquire cybersecurity firm Armis in a deal valued at approximately $7 billion, according to a Bloomberg report.
Neither company has confirmed the talks.
If completed, the acquisition would mark ServiceNow’s largest to date and significantly expand its security offerings, particularly in areas related to Internet of Things (IoT) and unmanaged devices, per the report.
Armis specializes in providing real-time visibility and protection for unmanaged and operational technology devices, segments where traditional security tools often face challenges.
Integrating Armis could strengthen ServiceNow’s risk management capabilities within its Now Platform.
The reports weighed on ServiceNow’s stock, which fell almost 11% at the open on Monday.