Following the $450 million acquisition, Dazz will continue to operate as an independent unit while being integrated into Wiz’s system.
We told you this week that cloud data platform Snowflake acquired data management company Datavolo. Giant acquisitions in the technology world continue unabated.
Cybersecurity company Wiz acquired security improvement and risk management company Dazz for 450 million dollars to strengthen cloud security. The $450 million acquisition deal was in the form of cash and share swaps.
According to the information provided by Wiz, this acquisition was the largest deal the company realized within the scope of its $ 1 billion acquisition budget.
Founded in 2021, Dazz, which has raised $110 million in investments to date, focuses on solving security vulnerabilities and improving system security. Following the acquisition, Dazz will continue to operate as an independent unit while being integrated into Wiz’s system.
Wiz aims to increase its annual recurring revenue from $500 million to $1 billion, while serving 45 percent of Fortune 100 companies. On the other hand, Dazz’s customer base has grown by 500 percent to nearly 100 organizations. Let us also remind you that Wiz rejected Google’s $23 billion acquisition offer last July.
As companies move to the cloud, they face more complex and expanding attack surfaces. Dazz’s solutions offer important technologies that address these challenges. This acquisition will allow Wiz to provide a more comprehensive and effective security service to its customers.
