Armis, the cyber-security firm, is set to be acquired for about $1 billion by a U.S. based technology firm-, say reports in Israeli financial media. As per the Calcalist financial news portal, the company was in negotiations with the unnamed technology firm to be bought with a valuation of around $800 million – $1.2 billion. The media could get in touch with the Armis officials for further comments.

Also, during early 2019, Armis raised $65 million in Series C seed funding, led by Sequoia Capital that made its total funding to $112 million. Armis security platform works around protecting IoT devices. It includes medical infusion pumps for use in hospitals or by car manufacturers in production lines.