Armis was acquired by the venture capital firm Insight Partners in a $1.1 billion cash deal.

The five-year-old Armis, which specializes in enterprise-level IoT security, will operate as an independent entity under the direction of its two co-founders Yevgeny Dibrov, CEO, and Nadir Izrael, CTO and the current executive team.

The acquisition also involved the VC firm CapitalG which contributed $100 million and is expected to close in February. Insight Partners said Armis will have access and the support of its ScaleUp division, Onsite.

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