Otorio Management (from website)
Armis, a global leader in cyber exposure management and security, has already let go of 45 employees from Israeli startup Otorio, a specialist in operational technology (OT) and cyber-physical systems (CPS) security, which it acquired just one week ago. Israeli publication Calcalist broke the news, saying that this constitutes about one half of Otorio’s total workforce.
Most of those fired worked in the areas of sales, marketing and human resources.
No reason was given for the decision for the layoffs.
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The deal for Otorio was valued at approximately $120 million in cash and shares, enhances Armis’ capabilities in safeguarding critical infrastructure and industrial networks. This strategic acquisition positions Armis as a dominant force in OT and CPS cybersecurity, reinforcing its commitment to securing connected environments against evolving cyber threats.
Armis, the cyber exposure management & security company, protects the entire attack surface and manages the organization’s cyber risk exposure in real time. In a rapidly evolving, perimeter-less world Armis ensures that organizations continuously see, protect and manage all critical assets – from the ground to the cloud. Armis secures Fortune 100, 200 and 500 companies as well as national governments, state and local entities to help keep critical infrastructure, economies and society stay safe and secure 24/7. Armis is a privately held company headquartered in California.
Founded in 2018 by co-founders Daniel Bren and Yair Attar, OTORIO has deep domain technical expertise, securing heavy industry and critical infrastructure with customers across the globe in industries like oil and gas, utilities, manufacturing and more. OTORIO specializes in cyber physical, converged and air gapped environments, providing proactive protection against cyber attacks. By expanding Armis’ platform with broader capabilities including Secure remote access (SRA) for full Zero trust and full attack path mapping, Armis can support any organization, with any requirement delivering a single, comprehensive solution for critical infrastructure, manufacturing and industrial environments.
OTORIO’s Titan platform will be integrated into Armis’ Centrix™ cloud-based cyber exposure management platform to expand Armis’ OT/CPS suite and offer an on-premises CPS solution for organizations or segments of an organization’s environment that are airgapped or sequestered from online access.
Calcalist further reported that Armis is expected to retain just 35 employees.
