Alphabet plans to acquire startup Wiz for $23 billion
Technology
Google parent Alphabet is in talks to buy cybersecurity startup Wiz for $23 billion in what could be the biggest deal in Alphabet's history, Bloomberg reports.
According to sources, negotiations are at the final stage, but an agreement has not yet been reached and the deal may not take place. Reuters clarifies that the deal could be concluded in the near future.
The acquisition of Wiz could help Google catch up with Microsoft and Amazon in the cloud market. Despite significant investments in the cloud business, Alphabet still lags behind competitors. At the same time, Google's cloud division recently began turning a profit after years of losses.
Wiz, headquartered in New York City, provides cloud-based cybersecurity solutions using artificial intelligence to detect and respond to threats. The company's revenue was about $350 million in 2023. In May, Wiz raised $1 billion in a private funding round, valuing the company at $12 billion. Alphabet's deal with Wiz could be closed amid increased scrutiny from US regulators.
The acquisition of Wiz could help Google catch up with Microsoft and Amazon in the cloud market. Despite significant investments in the cloud business, Alphabet still lags behind competitors. At the same time, Google's cloud division recently began turning a profit after years of losses.
Wiz, headquartered in New York City, provides cloud-based cybersecurity solutions using artificial intelligence to detect and respond to threats. The company's revenue was about $350 million in 2023. In May, Wiz raised $1 billion in a private funding round, valuing the company at $12 billion. Alphabet's deal with Wiz could be closed amid increased scrutiny from US regulators.
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