ServiceNow is in advanced talks to buy Armis, a cyber security startup that had been eyeing an initial public offering next year, in a deal that may be valued at as much as US$7 billion ($10.5 billion), Bloomberg News reported, citing people familiar with the situation.
The deal could be announced in the coming days but talks may fall apart or another potential bidder may emerge, the report added.
ServiceNow and Armis did not immediately respond to Reuters' request for comment outside business hours.
US-Israeli cybersecurity firm Armis raised US$435 million in its fundraising round in November, valuing the company at US$6.1 billion.
Founded in 2016, Armis secures connected devices in real time to protect against cyber threats, and serves more than 40 percent of the Fortune 100 companies.
Demand has been surging for advanced digital security services after a series of cyberattacks that cost billions in monetary losses and data leaks across the globe this year alone.
Lawmakers have been calling to make cyber-resilience a board-level priority.
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iTnews Executive Retreat - Security Leaders Edition
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