Google is in advanced talks to acquire Wiz, a cybersecurity firm, for $23B. This deal would be Google's largest-ever acquisition. Wiz, valued at $12B in May, offers comprehensive cloud security solutions. Google has faced antitrust scrutiny but remains committed to expanding its cybersecurity capabilities.
Google is reportedly in advanced talks to acquire cybersecurity firm Wiz for $23B. This would be Google's largest acquisition ever. The deal is expected to close soon, according to sources familiar with the matter. Wiz, founded in 2020, has rapidly grown under CEO Assaf Rappaport. The company achieved a valuation of $12B in May 2024 and was eyeing an IPO before these talks.
Wiz provides cloud security solutions that offer companies insight into their full cloud presence. This is especially appealing to large firms with significant computing resources. Wiz's backers include top firms like Cyberstarts, Index Ventures, Insight Partners, and Sequoia Capital. "Wiz's cloud security offering is a game-changer for large enterprises," said a representative from Index Ventures.
Google's acquisition practices have come under scrutiny. The Justice Department has sued Google twice on antitrust grounds, with the most recent case filed in 2023. Despite this, Google's talks with Wiz show a continued interest in mergers and acquisitions. Previously, Google acquired cybersecurity firm Mandiant for $5.4B in 2022, demonstrating its commitment to enhancing cybersecurity capabilities.
The acquisition of Wiz highlights Google's strategic focus on cybersecurity amid increasing threats from nation-state and criminal actors. This move suggests that Google is looking to bolster its defenses and offer robust security solutions to its clients. With antitrust issues in the background, the company's pursuit of Wiz indicates a renewed appetite for strategic growth through acquisitions.
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