Google's parent company in talks to buy cybersecurity startup Wiz for $23 billion

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Google parent Alphabet is in talks to buy cybersecurity startup Wizz for about $23 billion, which would be the tech group's biggest acquisition ever, according to people familiar with the matter.

Alphabet's talks to acquire Wizz are still weeks away from closing, one of the people with direct knowledge of the matter said, while a person briefed on the deal said there were still details to be ironed out and the deal could still fall apart.

A deal would be a test for antitrust regulators, who in recent years have cracked down on tech companies buying up startups in the sector. Alphabet's last big deal was its $12.5 billion purchase of Motorola Mobility more than a decade ago.

The Wiz acquisition marks Alphabet's latest major push into cybersecurity, two years after it acquired Mandiant for $5.4 billion.

New York-based Wiz has raised about $2 billion from investors since it was founded four years ago, according to data provider Pitchbook. Led by Israeli founder and former Microsoft executive Assaf Rapaport, the startup was last valued at $12 billion. Its backers include venture capital firms Sequoia and Thrive.

Wizz, whose clients include multinational companies like Salesforce, Mars and BMW, helps companies secure their programs in the cloud. Revenue has surged as companies run more software and store more data online. Wizz said it has reached about $350 million in annual recurring revenue, a metric often used by software startups.

The deal would be one of the largest acquisitions ever made by a venture-capital-backed company.

Wizz declined to comment on the talks, which were first reported by The Wall Street Journal, and Google did not immediately respond to a request for comment.

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