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Wiz completes acquisition of Gem Security to strengthen Cloud Detection and Response capabilities

Apr 10, 2024•over 1 year ago

Acquiring Company

Wiz

Acquired Company

Gem Security

New YorkNew YorkCyber SecurityCloud SecurityNetwork Security

Description

Wiz, the fastest-growing cloud security company, has announced the acquisition of New York-based startup Gem Security. With a focus on expanding its Cloud Native Application Protection Platform (CNAPP) and enhancing Cloud Detection and Response (CDR) capabilities, Wiz aims to build the world’s go-to platform for protecting everything organizations build and run in the cloud. The acquisition marks Wiz's commitment to industry consolidation and its mission to provide holistic cloud security solutions.

Company Information

Company

Wiz

Location

New York, New York, United States

About

Wiz was founded by CEO Assaf Rappaport, CTO Ami Luttwak, VP Product Yinon Costica, and VP R&D Roy Reznik. The team has worked together for over 20 years, including as Microsoft's Cloud Security Group leads and as the founding team of Adallom, which was acquired by Microsoft for $320 million. Wiz scans every layer of the cloud to provide complete visibility, and uses its Security Graph's context to eliminate the noise and surface the risks that matter most. Customers can then quickly identify, prioritize and remove risks across their cloud. This new approach to cloud security disrupts the agent-based security model and utilizes an agentless, API-centered approach to seamlessly scan cloud workloads. Wiz said goodbye to contextless alerts and, instead, at the heart of the product lies the Wiz Security Graph.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed