'Alphabet in Advanced Talks for $23 Billion Acquisition of Cybersecurity Startup Wiz'

Money | July 15, 2024, 2:24 p.m.

Alphabet, Google's parent company, is currently in discussions to acquire cybersecurity start-up Wiz for approximately $23 billion in what would be their largest acquisition to date. While the deal is not yet finalized and there is a possibility it could fall through due to various details needing to be addressed, it represents a significant move into the cybersecurity sector for Alphabet. Wiz, a New York-based company founded by Israeli entrepreneur Assaf Rappaport, has seen success with major multinational clients such as Salesforce, Mars, and BMW. Despite being a relatively young company, Wiz has raised significant investment capital and boasts an impressive annual recurring revenue of around $350 million. This potential acquisition would not only solidify Alphabet's presence in the cybersecurity market but would also be a major test case for antitrust regulators given the size of the deal.