Google-parent Alphabet is reportedly close to acquiring cybersecurity startup Wiz for about $23 billion. If finalized, the Google Wiz acquisition would be the biggest acquisition ever of the tech giant.
What we know about the Google Wiz acquisitionGoogle-parent Alphabet (GOOGL) is reportedly close to buying cybersecurity startup Wiz for about $23 billion. If finalized, this would be Google’s biggest acquisition ever and a major boost for its cloud computing business. First reported by The Wall Street Journal and confirmed by Bloomberg, these late-stage talks suggest a deal could be finalized soon.
Why Wiz? Founded in 2020, Wiz has quickly become a major player in cloud security. In early May, Wiz raised $1 billion in a funding round, valuing the company at $12 billion. By 2023, Wiz reported $350 million in annual recurring revenue. Google’s cloud business has lagged behind Amazon Web Services (AWS) and Microsoft Azure. Acquiring Wiz could help Google in some ways, including but not limited to:
This potential deal follows Google’s recent cybersecurity acquisitions. In 2022, Google acquired Mandiant for $5.4 billion, a company known for responding to state-sponsored cyber attacks. That same year, Google also bought Siemplify, a threat detection and automated response company, for $500 million. Adding Wiz would further bolster Google’s cybersecurity portfolio.
Wiz complements Google’s existing cybersecurity acquisitions like Mandiant and Siemplify, offering a broader range of security solutions.
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A closer look at the Wiz cybersecurity startupTaking a closer look at Wiz.io, the cybersecurity startup poised for a significant acquisition by Google’s parent company, Alphabet, and here is why:
Founded in 2020, Wiz.io has quickly established itself as a leader in cloud security. It focuses on offering advanced solutions across major cloud platforms like AWS, Microsoft Azure, and Google Cloud Platform (GCP). Here are its key features and capabilities:
Alphabet’s reported $23 billion acquisition of Wiz.io underscores the startup’s pivotal role in enhancing Google’s cloud security capabilities. Google Wiz acquisition is part of Alphabet’s broader strategy to bolster its cybersecurity portfolio, following earlier acquisitions like Mandiant and Siemplify.