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Wiz acquires Dazz for $450M to expand its cybersecurity platform
- Wiz is acquiring Dazz for $450m to expand its product reach in cloud security, particularly with developers.
- The deal is valued at $450 million in a mix of cash and shares.
- Dazz's remediation and posture management services are key services in the cybersecurity market that Wiz was not covering as well as it wanted to.
- Dazz will continue to operate as a separate entity while it’s integrated into the larger Wiz stack.
- Wiz and Dazz already had a close relationship going into this deal, with Dazz CEO Merav Bahat having worked closely with Wiz CEO Assaf Rappaport at Microsoft.
- The acquisition is one of several for Wiz, which earlier this year filled its coffers with $1bn expressly for the purpose of M&A.
- Wiz is spinning the acquisition as a way to give developers more help to better secure their systems.
- Wiz says it is now at $500m in annual recurring revenues and counts over 45% of the Fortune 100 as customers.
- Dazz says its ARR was in the tens of millions of dollars and it is currently growing at 500% on a customer base of about 100 organizations.
- Wiz is aiming for $1bn in ARR in the next year.
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