Posted by Alumni from TechCrunch
April 18, 2024
Consolidation continues apace in the world of security. Sources tell us that Lacework ' a cloud security startup that was valued at $8.3 billion post-money in its last funding round ' is in talks to be acquired by another security player, Wiz, for a price of just $150'$200 million. Sources close to the negotiations said that the two companies have already signed a letter of intent and described the state of negotiations as 'somewhere in the middle.' That is to say, the acquisition is not yet completed and the deal could still fall through. Although both work in the wider area of cloud security, sources tell us that there is relatively little competitive overlap between the two companies so it would likely be a technology-plus-talent-plus-customer acquisition play. We are still trying to find out more terms of the deal, such as whether it would be in stock, cash, or a mix. Wiz has said on a number of occasions that it's looking to hit $1 billion in annual recurring revenue ahead of... learn more