Cybersecurity startup Wiz said to discuss bid for SentinelOne
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Wiz, a cybersecurity startup most recently valued at some $10B, is reportedly weighing a bid for SentinelOne (NYSE:S).
A spokesman for the company told Bloomberg that is studiyng a deal for SentinelOne (S) and that it has been keeping an eye on the company's "growth journal for the past several years."
The New York-based Wiz has talked with bankers about a potential acquisition but has not hired any investment firms just yet, the news outlet added.
SentinelOne (S) did not immediately respond to a request for comment from Seeking Alpha.
Earlier this week, it was reported that SentinelOne (S) has been exploring its options, including a potential sale.
Following the report that SentinelOne (S) was exploring its options, Needham analyst Alex Henderson said that private equity was the most likely buyer of the company.
Henderson added that an acquirer would like to pay between seven and eight times enterprise value-to-sales for SentinelOne, which is trading at roughly 5.5x enterprise value to 2024 sales estimates.
The analyst added that CrowdStrike Holdings (CRWD) could benefit from a SentinelOne (S) acquisition, as it could gain market share, benefit from less price competition and improve its position in the channel.
SentinelOne (S) shares gained more than 3.5% in late-day trading on Friday. 

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