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November 21, 2024 at 04:16PM
Wiz, a cloud security provider, has announced its acquisition of Israeli startup Dazz for $450 million. This deal enhances Wiz’s offerings, including their new Wiz Code product. The acquisition aims to improve risk management and remediation, allowing security teams to efficiently address vulnerabilities across various platforms.
**Meeting Notes Takeaways:**
1. **Acquisition Announcement**: Wiz is set to acquire Dazz, an Israeli startup focused on security remediation and risk management, in a cash-and-share deal valued at $450 million.
2. **Enhancing Product Portfolio**: This acquisition will enhance Wiz’s product offerings, particularly following the recent launch of Wiz Code, which aids in identifying and fixing cloud risks in code.
3. **Customer-Centric Approach**: CEO Assaf Rappaport emphasized that Wiz’s mission is to enhance organizations’ security postures by prioritizing significant risks for resolution.
4. **Integration of Dazz’s Technology**: The acquisition will allow Wiz to integrate Dazz’s remediation engine, enabling security teams to manage risks from multiple sources within a unified platform.
5. **Focus on Risk Management**: Rappaport stressed the importance of connecting risks across the application lifecycle and the need for tools that facilitate prioritization and collaboration.
6. **Financial Background**: Earlier in the year, Wiz raised $1 billion for strategic acquisitions and declined a $23 billion acquisition offer from Google, indicating strong market positioning and future growth intentions.