Hot off the heels of its $1 billion Veza acquisition, ServiceNow is reportedly looking to snap up another security firm in Armis.

Bloomberg reported the IT service management (ITSM) giant is eyeing up the cyber exposure management company for $7 billion.

The rumors come a few short weeks after ServiceNow finalized its acquisition of identity management platform Veza. That deal was positioned as bolstering ServiceNow’s identity management capabilities for the AI era, with network and security teams needing to identify between human users, machine accounts, and an increasing proliferation of AI agents.

In contrast, Armis focuses on securing operational technology (OT) and IoT environments. Founded in 2015 and headquartered in Palo Alto, California, the Israeli-borne firm was valued at $6.1 billion after a major funding round last month led by Growth Equity at Goldman Sachs Alternatives with investments from the likes of CapitalG and Evolution Equity Partners

In August, Armis reported a $100 million growth in one year to reach $300 million in annual recurring revenue (ARR).

The firm’s flagship platform is Centrix, which monitors connected devices on a network, ranging across IT, OT, IoT, and internet of medical things (IoMT) settings.

According to chair of TC Cyber at ETSI, Alex Leadbetter, "IoT security remains an area of contention" due to the blight of legacy devices.

"Millions of insecure products remain in circulation, built without patching capabilities. These persistent vulnerabilities will continue to be exploited for years," Leadbetter told SDxCentral.

While ServiceNow is known as a traditional ITSM vendor, it has branched more into operational technology management (OTM) through last year’s acquisition of Mission Secure, an OT asset discovery and visibility vendor, specifically to improve OT asset inventory for its users.

If the Armis deal goes ahead, it would join Veza and Mission Secure in ServiceNow’s already considerable list of security acquisitions, which includes threat intelligent vendor BrightPoint Security, governance, risk, and compliance (GRC) suite Intréis, and disaster recovery platform Fairchild Resiliency Systems.

SDxCentral has contacted ServiceNow for comment.