Israeli security specialist Wiz recently acquired Raftt. With this, Wiz aims to further expand its portfolio of security solutions and applications for cloud and DevOps.
The acquisition brings a specialist that focuses entirely on the security of cloud-based pipelines and frameworks for app development to Wiz. Raftt has a tool that allows developers to bring their runtime environment to the cloud for testing and debugging. For this, developers can then use their own existing tools.
The acquisition will integrate the tool into Wiz’s platform and services. This should ultimately save users costs for solving application problems in the production environment. This is possible by preventively addressing these problems already at the source in the development process, using Raftt’s technology.
First acquisition
According to Bloomberg, the acquisition amount for the transaction is estimated to be between $40 million and $50 million. Neither company disclosed financial details.
For Wiz, the acquisition is a first. The three-year-old company is making its first acquisition ever. Yet surprisingly an acquisition already troubled the company in the past. The company briefly found itself blacklisted by SentinelOne after rumours leaked of takeover wishes of veteran SentinelOne by “newcomer” Wiz.
Also read: SentinelOne has an on-and-off relationship with Wiz
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