<div>
  <ul>
    <li>
      <p>
        Cloud security firm Wiz has reportedly signed a letter of intent to acquire another cloud security player, Lacework, for USD 150 million&ndash;200 million. This sum is a fraction of the USD 8.3 billion valuation seen during Lacework's most recent funding round.
      </p>
    </li>
    <li>
      <p>
        Lacework offers a cloud-native application security platform that protects applications from build to runtime, detects behavioral anomalies, and provides cloud compliance across multi-cloud environments, containers, and workloads.
      </p>
    </li>
    <li>
      <p>
        Though both companies operate within the cloud security space, there is reportedly not much competitive overlap between them, making the deal a customer acquisition and consolidation-focused move for Wiz.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake:</b>
         This is Wiz&rsquo;s second acquisition this year: The company closed a 
        <a href="https://sp-edge.com/updates/27562">
          deal
        </a>
         to acquire cloud detection and response (CDR) firm 
        <a href="https://sp-edge.com/companies/2632731">
          Gem Securit
        </a>
        y earlier in April at an estimated USD 350 million.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://techcrunch.com/2024/04/18/wiz-is-in-talks-to-buy-lacework-for-150-200m-security-firm-was-last-valued-at-8-3b/">
      TechCrunch
    </a>
  </p>
  <p>
    <a href="https://siliconangle.com/2024/04/18/cybersecurity-firm-wiz-reportedly-talks-buy-lacework-150m-200m/">
      SiliconAngle
    </a>
  </p>
  <p>
  </p>
</div>


Next-gen Cybersecurity

ANALYST_QUICK_TAKE

<div>
 <p>Wiz, a cloud security company, is planning to acquire another player in the sector, Lacework, for an amount between USD 150 million and 200 million. Lacework's previous valuation was USD 8.3 billion during its last funding round.</p>
 <p>Lacework's product is a cloud-native application security platform. Its functionalities include safeguarding applications from their creation to their operational phase, detection of abnormal behavior, and assurance of compliance across multiple cloud environments, containers, and workloads.</p>
 <p>Although Wiz and Lacework are both active in the cloud security sector, reportedly, they do not pose significant competition to each other. Hence, Wiz's acquisition of Lacework is believed to be an initiative for customer acquisition and consolidation in the market.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> This is Wiz’s second acquisition this year:<br>
 The company closed a <a href="https:<br>
//sp-edge.com/updates/27562"> deal </a> to acquire cloud detection and response (CDR) firm <a href="https:<br>
//sp-edge.com/companies/2632731"> Gem Securit </a> y earlier in April at an estimated USD 350 million.</p>

Wiz in talks to acquire Lacework in cloud security consolidation move

The toolkit to build machine learning applications at scale

Machine Learning Infrastructure

PROMINENT_CATEGORY

<div>
 
 <p>Hugging Face, a machine learning and natural language processing platform, has formed a partnership with Wiz Research, a tech research firm. The collaboration aims to detect and handle possible security threats in Hugging Face's AI cloud services platform.</p>
 <p>With this alliance, Wiz Research is committed to enhancing Hugging Face's security measures, minimizing the potential risks associated with the shared infrastructure used for storing sensitive data.</p>
 
</div>

Hugging Face and Wiz Research partner to enhance security practices

<div>
 <p>Wiz, a cloud security firm, is in acquisition talks with Gem Security, a cloud security company based in Israel. Gem Security is known for its cloud detection and response (CDR) platform which is intended to decrease the time required for identifying and managing potential threats within a cloud environment. The platform also provides a comprehensive view of multi-cloud environments, and facilitates cloud-native forensics and automated incident timelines. To date, Gem has raised USD 34 million in funding.</p>
 <p>Though the financial details of this acquisition are not public, estimates suggest the deal could be worth approximately USD 350 million. According to reports, following the acquisition, Wiz plans to integrate Gem’s technology into its own cloud security platform. It is also expected that all 70 employees of Gem Security will now be working under Wiz.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> This will be Wiz’s largest acquisition to date. In December 2023, the company <a href="https:<br>
//sp-edge.com/updates/24606"> acquired </a> developer collaboration platform Raftt for an undisclosed sum.</p>

Wiz to acquire Gem to consolidate cloud security

<div>
 
 <p>Wiz, a cloud security company, has announced that Dali Rajic, the former COO and president of Zscaler, has joined their team in the same roles. Rajic has more than a quarter-century of experience in tech operations and go-to-market strategies. His role at Wiz will be to guide the company's growth and operating models as they prepare for an Initial Public Offering (IPO).</p>
 
 <p>Prior to working at Zscaler, Rajic worked as chief customer and revenue officer at AppDynamics. His wealth of experience will likely be invaluable to Wiz as they gear up for their IPO.</p>
 
 <p>Despite having only been in operation for four years, Wiz has reported impressive annual recurring revenue (ARR) figures. For 2023, the company reported an ARR of USD 350 million. Furthermore, they claim that they currently serve 40% of companies in the Fortune 100.</p>
 
</div>

Wiz hires former Zscaler COO, reaches USD 350 million in ARR

Building future-ready applications in the cloud

Cloud-native Tech

<div>
<p>Wiz has acquired Raftt, a cloud-native platform for developer collaboration, in its first acquisition. The financial terms of the deal were not disclosed. Raftt's platform supports developers in a cloud-native environment, improving software development efficiency and security. By merging with Raftt, Wiz aims to enhance its platform for security and development teams. The acquisition will enable Wiz to strengthen its offerings for cloud and Kubernetes developers and further expand its platform to prevent costly production issues and enhance security for cloud environments.</p>
</div>

Wiz acquires developer collaboration platform Raftt

SentinelOne reported higher-than-expected quarterly results for Q2 FY2023 and stated that it plans to remain independent despite rumors of a sale. The company denied recent acquisition rumors and clarified that its broader partnership with cloud security startup Wiz is still ongoing, despite terminating a specific reseller agreement. SentinelOne reported adjusted EPS of -USD 0.08, beating estimates, and revenues grew 46% YoY to USD 149.4 million. In August, there were rumors of SentinelOne seeking a sale, layoffs, and an investor class action, with Wiz expressing interest in acquiring the cybersecurity firm. SentinelOne terminated a reseller agreement with Wiz due to a lack of execution.

SentinelOne denies sale rumors' plans to remain independent

Cybersecurity firm SentinelOne has ended its partnership with Wiz, stating a lack of execution as the reason. This announcement comes shortly after Wiz expressed interest in acquiring SentinelOne, which is a larger, publicly traded company. The two companies formed a strategic agreement in March 2023 to provide customers with comprehensive cybersecurity solutions, but the partnership only lasted six months out of the planned one-and-a-half-year duration. Both companies are reportedly subject to a non-competition clause, preventing them from partnering with each other's direct competitors. Wiz's interest in acquiring SentinelOne came after reports of the latter exploring a sale due to profitability issues.

SentinelOne terminates Wiz partnership amid acquisition rumors

Israeli cloud security startup Wiz is considering acquiring NYSE-listed cybersecurity company SentinelOne. Wiz, founded in 2020 and with around 750 employees, is smaller and younger than SentinelOne, which was founded in 2013 and has about 2,000 employees. The acquisition would allow Wiz to expand into endpoint protection and enhance its cloud and identity offerings. The deal would be one of the largest between Israeli tech companies, with Wiz valued at $10 billion and SentinelOne having a market capitalization of around $4.9 billion. Wiz may raise additional funding or engage private equity assistance to complete the acquisition.

All Updates