Wiz has reportedly entered a $350 million deal to purchase cloud cybersecurity startup Gem, which Forbes notes could be the first of many acquisitions of the IT security firm this year, according to SiliconAngle.
Such a deal comes three years after the emergence of Wiz, which has been providing a cloud cybersecurity platform that could enable code vulnerability detection. Cloud security has also been focused by Gem, which launched nearly two years later with a platform that automated cybersecurity visibility gap discovery in a bid to ease cyberattack detection-related data management activities.
"It is the year of security consolidation, and that is our path forward. Tool sprawl, silos, and visibility gaps have spurred organizations to actively push to consolidate vendors. To own the market, Wiz must solve this pain, while continuing to stretch the boundaries of innovation and make the complex simple — at speed," said Wiz co-founder and CEO Assaf Rappaport.
