According to sources close to the negotiations, Israeli cloud security company Wiz has signed a letter of intent to acquire US cloud security startup Lacework. The deal is rumored to be worth $150-200 million, despite Lacework being valued at $8.3 billion in its last financing round.
Although the acquisition is not yet finalized and could still fall through, Wiz has expressed interest in expanding through mergers and acquisitions. Recently, Wiz acquired Israeli cybersecurity company Gem Security for $350 million.
Wiz, founded in 2020 by CEO Assaf Rappaport and others, has raised $900 million and has a valuation of $10 billion. The company’s technology focuses on identifying and preventing risks in the cloud environment, providing a comprehensive analysis of potential vulnerabilities.
With plans to hire 400 additional employees this year, Wiz aims to continue growing as a leader in cloud security. The platform combines various risk factors to provide a clear overview of security threats in the cloud.
Published by Globes, Israel business news – en.globes.co.il – on April 19, 2024.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.
