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Google's parent company is close to acquiring Wiz, a startup, for $23 billion.
AInvestSunday, Jul 14, 2024 8:20 pm ET
1min read
GOOG --
GOOGL --

Alphabet Inc., the parent company of Google, is in advanced talks to buy cybersecurity startup Wiz, in a deal that could be worth up to $23bn, according to local reports. The news was reported by sources.

The deal would be Alphabet’s largest acquisition to date and “could happen soon”, according to reports.

Buying Wiz would help Alphabet catch up to its rivals in the cloud computing space, where it has lagged behind, according to the media.

The deal follows Alphabet’s $5.4bn acquisition of cybersecurity company Mandiant Inc. in 2022, which was one of its largest ever.

Alphabet did not immediately respond to a request for comment outside of business hours.

Wiz, based in New York, was valued at $12bn in a May funding round that attracted investors including Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital. The company was founded in 2020 and specialises in identifying and removing risks in the cloud.

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