Google Parent Alphabet is in talks with a cybersecurity startup Wiz for around $23 billion. This is revealed by a person familiar with the matter. The deal would become the tech giant’s biggest acquisition ever.
According to the source, the deal would go through mostly with cash and could come together soon. Wiz, a cybersecurity company founded in Israel and now headquartered in New York is one of the fastest growing companies in the world.
Wiz provides cloud-based real-time cybersecurity solutions with threat detection and responses powered by artificial intelligence.
If Google Parent Alphabet moves with this deal, it would be rare in the US as the country is facing tough scrutiny in the tech sector. The US regulators indicated their dislike for mega giants like Google getting big through acquisitions.
Wiz generated about $350 million in revenue in 2023. They also claim that they work with around 40% of the Fortune 100 companies. Recently, Wiz raised $1 billion in a private funding round that valued the company at $12 billion.
According to the New York Times, Google Cloud boss Thomas Kurian has been the driving force behind the acquisition attempt. If the acquisition is successful, it will help Google solidify its position as a secure cloud platform. For the same reason, Google invested $500 million in another company in 2022.
According to the New York Times, this deal is likely to close, but it could fall apart and risk triggering reviews from US regulators. FTC also tried to block Activision Blizzard and Microsoft but ultimately they couldn’t.
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