Cloud security firm Wiz has reportedly signed a letter of intent to acquire another cloud security player, Lacework, for USD 150 million–200 million. This sum is a fraction of the USD 8.3 billion valuation seen during Lacework's most recent funding round.

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.

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.

Analyst QuickTake: This is Wiz’s second acquisition this year: The company closed a deal to acquire cloud detection and response (CDR) firm Gem Securit y earlier in April at an estimated USD 350 million.