Cybersecurity firm Armis may be acquired by Insight Partners -report

JERUSALEM: Cybersecurity firm Armis, which specializes in protection for the Internet of Things (IoT), is in advanced talks to be bought by U.S.-based Insight Partners for around $1 billion, Israeli financial news website Calcalist reported on Monday.

The company employs some 240 people in Palo Alto, California, and in Tel Aviv, according to Calcalist. Insight Partners, a venture capital and private equity firm, opened offices in Tel Aviv in October.

Neither company was reachable for immediate comment.