Cybersecurity firm Armis has laid off 45 employees from Israeli startup Otorio, over half of its workforce, following its US$120 million acquisition in March. Among those affected, 25 were based in Israel.

The restructuring leaves Otorio with 35 development staff while impacting sales, marketing, finance, and HR.

Founded in 2018, Otorio specializes in cybersecurity for industrial sectors like oil and gas, manufacturing, and utilities.

Its Titan platform will be integrated into Armis’s Centrix suite to enhance security for operational technology and cyber-physical systems.

Armis has been expanding aggressively, marking its third acquisition within a year. In October 2024, it secured US$200 million in funding at a US$4.3 billion valuation.

Industry experts speculate this may signal IPO preparations, though Armis has not confirmed.