Googles $32 billion Wiz deal may signal a turning point for slow IPO, M&A markets
Summary
SailPoint went public in February and CoreWeave, which sells Nvidias AI processors, said in a Thursday filing that it plans to raise up to $2.7 billion in its IPO thats expected this week. "Having a more complete offering for securing workloads in the cloud — thats the core, the rationale behind [the Wiz] deal," said Merritt Maxim, Forrester vice president and research director. Thats made cybersecurity a key target area for companies looking to protect their business models, said Neil Barlow, partner at the law firm Clifford Chance. Netskope, which also offers cloud security, is another company being closely watched for an IPO, said Brianne Lynch, head of market insight at EquityZen. The company was last valued at $7.4 billion and CEO Peter McKay said in a post last year that Snyk had crossed $300 million in annual recurring revenues.