Google to buy Wiz for $23 billion: Report

Alphabet's Google is reportedly set to buy cybersecurity company Wizz for $23 billion, making it the company's largest acquisition to date.

The blockbuster deal, first reported by The Wall Street Journal on Sunday, is in advanced discussions and could be announced soon, according to people familiar with the matter.

Four-year-old Wiz has raised $1.9 billion from investors including Sequoia Capital and Index Ventures, and was led by CEO Assaf Rapaport when it planned to IPO in May, when its market capitalization had soared to $12 billion.

Wizs' cloud security products have attracted attention for detecting security flaws in other companies, including a flaw discovered in Microsoft's search engine Bing in May 2023 that could allow hackers to tamper with search results and steal personal information.

Wiz and Google could not be reached for comment.

Google's interest in Wiz comes amid a series of digital intrusions by nation states and cybercriminals into government agencies and major organizations, including OpenAI and AT&T Inc., that have alarmed cybersecurity experts. In 2022, Google acquired cybersecurity firm Mandiant for $5.4 billion.

“Google's security strategy continues to evolve with the acquisition of Wiz,” said Mitch Ashley, chief technical advisor at The Futurum Group and chief technology officer at Techstrong Group. “As a single, high-value acquisition, Wiz will propel Google to the center of many enterprise cloud security strategies by covering containers, software supply chain security, cloud workloads, CI/CD pipelines, code and data security and more.”

Cloud Security Solutions

“Complementing Mandiant's advanced threat and security monitoring capabilities, Wiz is a natural complement to the enterprise cloud security solutions we offer,” Ashley said.

Google's acquisition of Wiz is similarly significant for its timing: The company is one of a handful of major technology companies actively under attack by Justice Department officials for antitrust violations, including mergers and acquisitions activity.

Until last week, Google was reportedly interested in acquiring sales software maker HubSpot, but talks cooled off shortly before Google turned its attention to Wiz.

In fact, Wedbush Securities analyst Dan Ives predicts that a return of Donald Trump to the White House would accelerate M&A activity among big tech companies, significantly weaken the Federal Trade Commission and lead to a flurry of mega-deals starting in 2025.

Sources 1/ https://Google.com/ 2/ https://securityboulevard.com/2024/07/google-nears-23-billion-purchase-of-wiz-reports/ The mention sources can contact us to remove/changing this article

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