Otorio sold to Armis

The international technology group Andritz has sold its stake in Otorio, a provider of Operational Technology (OT) and Cyber Physical Systems (CPS) security, to Armis. At the same time, the companies have entered into a strategic partnership.

Armis, a cyber exposure management and security company, is now the sole owner of Otorio. Andritz will work with Armis to further strengthen digital customer solutions in this increasingly critical area.

As a supplier of complete plants and systems for a wide range of industries, Andritz has been offering cyber security solutions from its joint venture Otorio for several years. Armis offers a comprehensive cybersecurity platform for large enterprises, national governments and local authorities. The partnership with Armis will enable Andritz to add additional technology to its digital platform 'Metris' and thus expand its digitalization offering for customers.

Daniel Bren, CEO of Otorio, says: "We are glad that with Andritz we had a joint venture partner who shared our vision and provided the financial means to develop state-of-the-art products for industrial cyber security."

Joachim Schönbeck, CEO of Andritz, adds: "Armis is the right partner to further develop Otorio's products and offerings - we look forward to providing our customers with even more comprehensive solutions in this area."

Yevgeny Dibrov, CEO and co-founder of Armis, explains: "Otorio's technologies will expand our platform offering and enable us to provide our customers with an on-premises solution."

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