By Milcah Tanimu
Google is reportedly in the final stages of negotiating a $23 billion acquisition of cybersecurity startup Wiz, marking what could be the tech giant’s largest acquisition to date.
The Wall Street Journal, citing sources familiar with the discussions, reported on Sunday that the deal could be finalized soon, underscoring Google’s continued investment in cybersecurity.
Wiz specializes in providing comprehensive cloud security solutions, integrating data from Google Cloud, Microsoft Azure, Amazon Web Services, and other platforms to identify potential security threats.
This acquisition is seen as a strategic move by Alphabet, Google’s parent company, to strengthen its cloud services division, which saw a 28% revenue increase to $9.57 billion in the first quarter of this year.
Just two months ago, Wiz raised $1 billion in a Series E funding round, valuing the company at $12 billion. Founded four years ago by former Microsoft employees Yinon Costica, Roy Reznik, Assaf Rappaport, and Ami Luttwak, Wiz has secured $1.9 billion in total funding to date. The company currently generates $350 million in annual recurring revenue.
In related news, Google recently announced a $2 billion investment in Malaysia to expand its data center and AI infrastructure.
