Google plans to acquire startup Wiz Security for $23 billion

Google is reportedly planning what could be the largest acquisition in the company's history.

The tech giant is in advanced talks to acquire Wizz Security for an estimated $23 billion, people familiar with the matter told The Wall Street Journal over the weekend.

Wiz Security describes itself as a cloud security company that offers container and Kubernetes protection, cloud security posture management, vulnerability management, cloud app protection, IAC scanning, and more.

Founded in 2020, the fast-growing company was recently valued at $12 billion.

Google has made some big acquisitions in the cybersecurity space before, investing $5.4 billion in incident response specialist Mandiant in 2022 and $500 million in Israeli security startup Siemplify earlier that year.

Read more about Google's acquisition here: Google Acquires First Non-US Cybersecurity Company

Later that year, Google launched Chronicle Security Operations to bring all its cloud capabilities together in one place, integrating Chronicle's security information and event management (SIEM) capabilities with Siemplify's security orchestration, automation, and response (SOAR) solution, as well as threat intelligence from Google Cloud and Mandiant.

The move comes at a time when cloud investments and cyber threat volumes are exploding: By one estimate, 89% of organizations worldwide now have adopted a multi-cloud strategy, with 73% adopting a hybrid cloud.

However, there were more than 3,200 data breaches in the U.S. last year, up 72% from the previous record for 2021, affecting an estimated 363 million people.

Google's cloud business saw revenue grow 28% to $9.57 billion in the first quarter of 2024, driven by increased demand for its generative AI services.

Image credit: T. Schneider / Shutterstock.com

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