US personal fairness fund Perception Companions is in talks to promote Israeli cybersecurity firm Armis to US personal fairness agency Thoma Bravo at an organization valuation of $5 billion, sources accustomed to the negotiations have instructed “Globes.”
The deal will seemingly be accomplished by promoting management to Thomas Bravo at a valuation of $5 billion and by injecting tons of of hundreds of thousands of {dollars} into the corporate’s coffers. At this stage, it’s unknown what the holding proportion of present shareholders can be.
If the deal is accomplished, Perception Companions, which focuses on younger progress corporations, will generate revenue of $2-3 billion, whereas different main shareholders embrace Canadian fund Georgian, Chicago-based GT Squared, and New York-based One Fairness Companions, for whom the funding is managed by Ori Cohen. Different buyers embrace Capital G, Brookfield, Normal Catalyst and Alkeon Capital.
Nearing an IPO?
Based on PitchBook’s funding database, since its acquisition by Perception Companions in 2020, which was meant to enhance the corporate for a sale, Armis has raised over $800 million in enterprise capital and loans from Hercules Capital
The corporate introduced earlier this month that its annual income progress charge (ARR) is reaching about $300 million – a $100 million improve over 2024. Contemplating this, this can be a valuation a number of relative to ARR of solely 16-17, low in comparison with the double-digit multiples at which cybersecurity corporations like Wiz or Dazz have been acquired lately. The corporate was solely lately valued at $4.5 billion throughout a personal sale of shares (a “secondary” spherical) by which long-time buyers and workers offered shares totaling $100 million.
The sale to Thomas Bravo might be forward of an IPO. Up to now, the individuals at Armis have said that they need to take the corporate on this path, and Thoma Bravo, which invests in pre-IPO corporations, because it did, for instance, with Israeli firm ironSource, could profit from this. For Perception Companions, which is at the moment elevating its 13 th fund and is thinking about exhibiting buyers a fast return, this can be a ample deal within the present timeframe, with out ready for the IPO. An acquisition by a personal fairness fund, on this case, a change of fingers between Perception Companions and Thoma Bravo, serves primarily to liquidate the previous’s stake whereas giving a better worth to the acquired firm, and permitting it to proceed to enhance its enterprise efficiency, or put together for an IPO
Armis operates within the crucial infrastructure safety, industrial and medical units markets, and competes with different Israeli corporations comparable to Axonius, Claroty and Shalev Hulio’s Dream Safety. The corporate was based by Yevgeny Dibrov and Nadir Izrael, serial entrepreneurs who’ve additionally invested in different cybersecurity corporations and enterprise capital funds – comparable to Gili Raanan’s Cyberstarts. Armis has 900 workers and clients embrace Colgate-Palmolive, airline giants comparable to United, and the US Postal Service.
Printed by Globes, Israel enterprise information – en.globes.co.il – on August 18, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
