Cybersecurity firm Wiz has announced plans to open its European headquarters in London, a major boost for the UK’s tech ambitions.
The company, which last month turned down a $23bn takeover offer from Google’s parent company Alphabet, will be headed up in the UK by co-founder Roy Reznik. He will relocate from Israel to oversee the new office and drive the company’s expansion in the region.
Roy Reznik said: “The UK is a region with many leading global brands and top tech talent, which is why we see it as key to the growth and expansion of Wiz. Organisations in this market are embracing the cloud and capitalising on the transformative impact of artificial intelligence (AI). At the same time, with only 10% of data having migrated to the cloud so far, we see near limitless growth potential.”
Wiz is set to embark on a significant hiring spree, aiming to double its UK workforce to 100 by the end of the year. The company intends to generate 35% of its global revenue from Europe, the Middle East, and Africa by the end of next year.
The move comes as Wiz seeks to expand its engineering and research and development capabilities beyond its current UK sales and marketing team.
The cybersecurity firm offers a cloud security platform used by major corporations such as Asos, the Bank of England, and Shell. With annual revenue already exceeding $350m, Wiz has its sights set on reaching $1bn before considering a potential initial public offering.
This story originally appeared as an exclusive in The Guardian: https://www.theguardian.com/business/article/2024/aug/15/cybersecurity-firm-wiz-to-open-european-headquarters-in-london
