Armis cyber exposure and security

Security and risk products built on the Armis acquisition, which finds and tracks connected assets across IT, operational technology, IoT and medical devices. The company says it extends its security platform into physical and operational environments. Armis gives ServiceNow a larger addressable market in security and risk.

Why it matters to the stock. The deal is a large cash outlay that tests ServiceNow's capital allocation. A trader watches how much revenue it adds, the cost of integration and whether margins fall while the deal is digested.