ServiceNow (NOW) confirmed its $7.75B acquisition of Armis, to be financed with cash and debt and closing in the second half of 2026, marking the company’s largest acquisition to date and deepening its push into OT and IoT security, Raymond James tells investors in a research note. The deal strengthens ServiceNow’s $1B+ security business by adding a best-of-breed exposure management platform and accelerating expansion into industrial and critical-infrastructure environments, while management signaled no need for further large security M&A, the firm adds. Raymond James has an Outperform rating on the shares.
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