Israeli cybersecurity company SentinelOne (NYSE: S) has canceled its commercial collaboration agreement with Israeli cybersecurity company Wiz after reports earlier this week that there were talks between the two companies about a potential merger.
"Bloomberg" quoted a Wiz spokesperson as saying that the company was considering buying SentinelOne and had warm words to say about the company. Sources now say that SentinelOne's management was angry about the leak and have halted cooperation for the joint sale of the companies' products, just six months after the commercial collaboration agreement was signed.
The agreement between the companies did not bear fruit
Sopurces have told "Globes" that the agreement signed between the two companies with great fanfare has not borne fruit because each company has restricted the other in the sales of complementary products that they will permit. For example, Wiz cannot offer products that compete with SentinelOne in its area of activity - endpoint security and SentinelOne can only offer Wiz products for control and security of enterprise applications in the cloud and not those of rivals such as Lacework, Orca Security and Aqua Security.
It is unclear why SentinelOne is so angry about the leaks. It is possibly because Wiz is cited as the buyer, even though SentinelOne is the bigger company in terms of revenue and employees, although Wiz has a higher valuation.
Published by Globes, Israel business news - en.globes.co.il - on August 30, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.