Wiz Acquires Dazz for $450M to Boost Cloud Security
Wiz has made headlines by acquiring Dazz for $450 million, a strategic move to enhance its cybersecurity platform. This acquisition targets cloud security tools and aims to improve risk management ...
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By Shibasis Rath
Published: November 21, 2024
The world's most talked-about names in cybersecurity market trends are making a big acquisition to increase the reach of their products in cloud security tools, particularly into developers' pockets. Here is Wiz buying Dazz, a specialist in security remediation and risk management. According to sources familiar with the matter, this is a cash-and-share deal valued at $450 million acquisition deal.
The price tag is slightly more expensive than Dazz's most recent valuation, when it sold $50 million on a post-money valuation of just shy of $400 million.
Remediation and Posture Management
Remediation and posture management — the two areas where Dazz focuses — are key services in the enterprise cloud security market that Wiz was not covering as well as it wanted to.
"The best talent is there and the best customers; it's a great culture fit" - Assaf Rappaport, Wiz's CEO
Remediation, or helping to understand and resolve vulnerabilities, shapes the way an enterprise approaches the many vulnerability alerts it might receive across its networks. Posture management for enterprise networks is a more preemptive product: it gives an organization a better understanding of the size, shape and function of its network so it can build better security services.
Strategic Integration
The company will operate as a standalone entity, while it's part of the bigger company's stack. Wiz has established itself primarily as a "one-stop-shop," and an SaaS security integration offering will continue to be a major part of that strategy.
He believes that contrasts with a lot of other SaaS businesses. In the security industry, there are "a lot of Frankenstein mashups, where companies are prioritizing revenues over building one technology stack that actually works as a platform." Arguably, integration is even more important in cybersecurity than in other areas of enterprise IT.
References from: TechCrunch, Silicon Republic, Globes
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