Wiz considers potential bid for SentinelOne

Cybersecurity startup Wiz said it is considering a potential bid for SentinelOne (S.N) after the $4.9 billion company started exploring strategic options. SentinelOne has struggled to become profitable, with clients slashing their information technology spending amid an uncertain economy and sticky inflation. Earlier in the week, people familiar with the matter told Reuters SentinelOne was exploring options that could include a sale. “We consistently evaluate potential opportunities that will support our business growth… SentinelOne has a strong cybersecurity offering,” Wiz’s spokesperson Rachel Ratchford said. SentinelOne has hired investment bank Qatalyst Partners to advise on discussions with potential acquirers, including private equity firms, the sources had said