Wiz spokesperson Tamar Harel said on Friday that the firm was studying the potential acquisition of SentinelOne, which had a market valuation of nearly $4.9 billion on Friday. Harel said Wiz has been tracking SentinelOne’s “growth journal for the past several years” and noted that there are a few companies that would complement Wiz’s offering and help expand its platform.
Harel said in a statement that Wiz “openly discussed the possibility of acquiring companies” and that the company consistently evaluates the market “as part of our mission to become the world’s leading cloud security company.” SentinelOne shares surged as much as 9.1% on Friday to $17.50 on the news. It was trading at $17.02 at 2:52 p.m. New York time.
While Wiz provides cloud security, SentinelOne uses artificial intelligence to prevent, detect and remediate cyber threats. Any private or public deal for SentinelOne could be worth about $6 billion to $8 billion, depending on the type of buyer, according to Bloomberg Intelligence.
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