Google Nears $23 Billion Deal to Acquire Israeli Cybersecurity Firm Wiz, According to WSJ Report

Money | July 14, 2024, 5:13 p.m.

Google is in advanced discussions to purchase Israeli cybersecurity start-up Wiz for a staggering $23 billion, potentially the largest acquisition in the history of its parent company, Alphabet. The deal is seen as crucial for Alphabet to solidify its position as a cloud computing leader, an area where it has lagged behind rivals recently. This move comes at a time of heightened antitrust scrutiny of tech giants like Alphabet. Founded in 2020 by Israeli entrepreneurs, Wiz has quickly climbed the ranks in the cloud security sector, attracting significant investment from top venture capital firms. With offices in the US and Israel, Wiz's valuation has skyrocketed to $12 billion after raising $1 billion earlier in 2024. The potential acquisition by Google underscores the importance of cybersecurity in the rapidly evolving tech landscape.