Google Nearing Acquisition of Cybersecurity Startup Wiz - Latest Updates

Money | July 15, 2024, 9:33 p.m.

Alphabet, the parent company of Google, is in advanced talks to acquire cybersecurity startup Wiz for approximately $23 billion. This potential deal signifies Google's largest-ever acquisition and showcases a significant investment in cybersecurity. Wiz, known for its cloud computing security software, saw discussions with Google initiated after securing $1 billion in funding earlier in the year. While the terms of the deal are still being finalized and could potentially fall through, the acquisition would demonstrate Google's commitment to enhancing its cybersecurity offerings and expanding its presence in the cloud computing market. The move would also position Google to better compete with industry leaders like Microsoft and Amazon. Despite facing antitrust scrutiny, the potential acquisition could proceed as tech giants navigate regulatory landscapes. If completed, the deal would mark a substantial exit for Wiz's founders, who have seen impressive growth since launching in 2020, with Fortune 100 companies among their clients.