After SentinelOne, a $4.9 billion corporation, started reviewing its strategic options, cybersecurity startup Wiz said on Friday that it is considering a potential acquisition deal.
Due to clients cutting their information technology spending in the face of volatile financial conditions and persistent inflation, SentinelOne has struggled to turn a profit.
People with knowledge of the situation told Reuters earlier this week that SentinelOne was considering options, including a sale.
"We consistently evaluate potential opportunities that will support our business growth... SentinelOne has a strong cybersecurity offering," Wiz's spokesperson Rachel Ratchford told the media.
According to the sources, SentinelOne has hired investment bank Qatalyst Partners to provide advice on talks with potential acquirers, including private equity groups.
"The deal (to acquire SentinelOne) would broaden Wiz's platform into endpoint security and bring strong cloud and identity security solutions from SentinelOne," D.A. Davidson analyst Rudy Kessinger said.
An exclusive alliance between Wiz and SentinelOne to provide end-to-end cloud security was announced in March.
As of January 31, 2023, SentinelOne, which debuted in Israel in 2013, has more than 10,000 clients, including the U.S. government and big corporations.
(Source:www.usnews.com)
Due to clients cutting their information technology spending in the face of volatile financial conditions and persistent inflation, SentinelOne has struggled to turn a profit.
People with knowledge of the situation told Reuters earlier this week that SentinelOne was considering options, including a sale.
"We consistently evaluate potential opportunities that will support our business growth... SentinelOne has a strong cybersecurity offering," Wiz's spokesperson Rachel Ratchford told the media.
According to the sources, SentinelOne has hired investment bank Qatalyst Partners to provide advice on talks with potential acquirers, including private equity groups.
"The deal (to acquire SentinelOne) would broaden Wiz's platform into endpoint security and bring strong cloud and identity security solutions from SentinelOne," D.A. Davidson analyst Rudy Kessinger said.
An exclusive alliance between Wiz and SentinelOne to provide end-to-end cloud security was announced in March.
As of January 31, 2023, SentinelOne, which debuted in Israel in 2013, has more than 10,000 clients, including the U.S. government and big corporations.
(Source:www.usnews.com)
