Cybersecurity startup Wiz has made a significant acquisition, buying Dazz, a specialist in security remediation and risk management, for $450 million in a mix of cash and shares. The deal marks a major expansion of Wiz's product reach in cloud security, particularly for developers.

The acquisition fills a gap in Wiz's offerings, providing remediation and posture management services that were previously lacking. Dazz will continue to operate as a separate entity while being integrated into Wiz's stack, allowing the company to offer a more comprehensive "one-stop-shop" solution for customers.

The deal is a significant bump up from Dazz's last funding round, which valued the company at $400 million. Wiz, which has raised nearly $2 billion in total, is aiming to become a major player in the cybersecurity market, with plans for further acquisitions in the future.

The acquisition is a strategic move for Wiz, which is looking to build out more tools for developers and address the growing need for cloud security solutions. With the deal, Wiz is now at $500 million in annual recurring revenues and counts over 45% of the Fortune 100 as customers.