Company Behind Google Set For a $23 Billion Acquisition Deal
15.07.2024 21:00 1 min. read Alexander Stefanov
Alphabet Inc., Google's parent company, is reportedly nearing its biggest acquisition yet, according to the Wall Street Journal.
Sources familiar with the matter revealed that Alphabet is in advanced negotiations to acquire cybersecurity startup Wiz for approximately $23 billion.
Wiz, headquartered in New York with offices across the U.S. and Israel, collaborates with major cloud providers such as Amazon, Microsoft, and Google, as stated on its official website.
The deal, if finalized, could significantly bolster Alphabet’s cloud computing capabilities, as Wiz specializes in providing security software for cloud environments.
Despite requests for comment, neither Alphabet nor Wiz have responded to inquiries as of Sunday.
Wiz recently raised $1 billion in funding, valuing the company at $12 billion, making it a substantial target for Alphabet’s expansion efforts.
A potential acquisition of Wiz would mark one of the largest recent technology transactions, occurring amid cautious buyer sentiment due to antitrust scrutiny and high interest rates. Recent deals in the tech sector have notably centered around cybersecurity, exemplified by Cisco’s acquisition of Splunk for $28 billion earlier this year.
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