Veteran Israeli cybersecurity company Check Point Software Technologies Ltd. (Nasdaq: CHKP) has announced a strategic partnership with Israeli cloud security company Wiz to provide end-to-end cloud security. The leading cybersecurity company in the field of cloud security is Palo Alto Networks (Nasdaq: PANW), founded by Nir Zuk and managed by CEO Nikesh Arora. In a recent conference call Arora said that Palo Alto's revenue in the fourth quarter of 2024 exceeded $700 million.
Check Point is managed by CEO Nadav Zafrir, who succeeded Gil Shwed in December, who has become executive chairman. Wiz, led by cofounder and CEO Assaf Rappaport, will provide the most comprehensive cloud security solutions in the industry, according to the companies' announcement. Check Point and Wiz plan to provide an end-to-end solution to the security challenges in distributed network environments, in a way that will bridge the gaps of data security teams that are required to provide both cloud security and cloud native app protection (CNAPP).
Check Point and Wiz will implement a tech-product integration, which will allow Check Point's cloud protection mechanisms to be connected with Wiz's cloud risk and vulnerability detection platform, thus enabling real-time prevention of cloud attacks. According to the companies, the combination of the technologies will allow data security professionals to identify assets and applications that are not adequately protected in the cloud, prioritize the necessary fixes and ensure that attacks are blocked.
The collaboration will include mutual integration and support in the transition of Check Point's CNAPP customers to Wiz. According to the report, Check Point will free up resources and is expected to increase investments in its cloud security, including cloud network protection, Web Application Firewall, GenAI, and more.
"We are transforming how organizations manage risk in the cloud"
Both companies say that the strategic partnership expresses their commitment to create innovative security solutions and provide the security responses reqired by companies and organizations.
Zafrir said, "This partnership between the parties was formalized in order to create a new security paradigm - combining Check Point’s cloud network security expertise with Wiz’s CNAPP leadership to deliver comprehensive protection across hybrid mesh environments. Together, we are transforming how organizations manage risk, enabling teams to collaborate with greater efficiency and control."
Rappaport added, "Bringing together Wiz’s leading CNAPP technology and Check Point’s expertise in cloud network security enhances visibility and prioritizes risks more effectively. Our partnership is aimed to ensure that companies can seamlessly protect their network and cloud environments with an integrated, industry-leading solution while continuing to democratize cloud security."
Wiz also has a collaboration agreement with Israeli cybersecurity company CyberArk (Nasdaq: CYBR), which specializes in enterprise identity management. Last November the two companies announced a collaboration that includes integration between CyberArk's identity platform and Wiz's cloud security platform. Another collaboration that Wiz had was terminated about 18 month ago. This collaboration with Israeli cybersecurity company SentinelOne (NYSE: S), managed by founder Tomer Weingarten, was canceled after it was leaked and published that the two companies were in talks towards a merger.
Check Point is currently traded on Nasdaq with a market cap of $23.76 billion, after its share price has risen 15.7% since the start of the year. Wiz is a privately-held company, which last year raised money at a company valuation of $12 billion and in July reportedly turned down a $23 billion acquisition bid from Google. Palo Alto Networks is traded on Nasdaq at a market cap of $129 billion.
Published by Globes, Israel business news - en.globes.co.il - on February 11, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.