ServiceNow buys Israeli startup Armis from Evgeny Dibrov and Nadir Israel for $7.5 billion

US business process management company ServiceNow announced today that it has acquired Israeli cybersecurity company Armis.

The deal is worth $7.75 billion in cash, making it the fourth largest exit in the history of Israeli high-tech.

The deal also includes additional employee retention payments totaling several hundred million dollars, Globe reported.

ServiceNow, which provides software platforms for managing and automating enterprise processes, has a market value of about $180 billion. In recent years, the company has been expanding its scope of activities beyond the classical IT areas into the areas of risk management, information security and critical asset management. The acquisition of Armis fits into this strategy and marks the company’s first significant entry into the Israeli market.

Armis was founded in 2015 by Evgeny Dibrov and Nadir Israel, who met while serving in Military Intelligence Unit 81. The company specializes in the protection of critical infrastructure.

The company’s clients include manufacturing plants, energy companies, airlines, hospitals and US federal agencies. Armis serves tens of percent of Fortune 100 companies, as well as government and defense organizations.